Mereo BioPharma Group plc - Sponsored ADR $MREO Position Lifted by Tejara Capital Ltd

Key Points

• Tejara Capital Ltd increased its stake in Mereo BioPharma Group by 8.8%, acquiring an additional 204,239 shares, amounting to a total of 2,521,324 shares in their portfolio.
• Mereo BioPharma Group's stock currently has a market cap of $271.89 million and opened at <$1.71, with a 1-year low of $1.47 and a high of $5.02.
• Analysts have given mixed ratings on Mereo BioPharma, with forecasts showing an average price target of $7.20 while some predict the company will post a loss of –$0.03 EPS for the current fiscal year.

Tejara Capital Ltd grew its stake in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 8.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,521,324 shares of the company's stock after buying an additional 204,239 shares during the quarter. Mereo BioPharma Group makes up 2.2% of Tejara Capital Ltd's portfolio, making the stock its 9th biggest holding. Tejara Capital Ltd owned 1.59% of Mereo BioPharma Group worth $5,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Avanza Fonder AB increased its position in Mereo BioPharma Group by 43.5% in the first quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock worth $67,000 after buying an additional 8,521 shares in the last quarter. Graham Capital Management L.P. boosted its stake in shares of Mereo BioPharma Group by 74.7% in the fourth quarter. Graham Capital Management L.P. now owns 22,189 shares of the company's stock worth $78,000 after acquiring an additional 9,490 shares during the period. GAMMA Investing LLC boosted its stake in shares of Mereo BioPharma Group by 109.5% in the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after acquiring an additional 9,854 shares during the period. Jump Financial LLC bought a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $39,000. Finally, Virtus ETF Advisers LLC bought a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $67,000. Hedge funds and other institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO traded down $0.04 during trading on Tuesday, hitting $1.64. The company had a trading volume of 1,041,434 shares, compared to its average volume of 1,752,144. The stock has a market cap of $260.76 million, a price-to-earnings ratio of -23.43 and a beta of 0.47. Mereo BioPharma Group plc - Sponsored ADR has a one year low of $1.47 and a one year high of $5.02. The company has a fifty day simple moving average of $2.18 and a two-hundred day simple moving average of $2.36.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to analysts' expectations of $7.80 million. On average, equities research analysts anticipate that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC set a $5.00 price objective on Mereo BioPharma Group and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen raised Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $7.20.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.