Mereo BioPharma Group plc - Sponsored ADR $MREO Stock Position Increased 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 raised its stake in shares of Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 8.8% during the 1st 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 purchasing an additional 204,239 shares during the period. Mereo BioPharma Group accounts for 2.2% of Tejara Capital Ltd's holdings, making the stock its 9th biggest position. Tejara Capital Ltd owned about 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 recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its stake in shares of Mereo BioPharma Group by 187.9% in the fourth quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company's stock worth $331,000 after buying an additional 61,642 shares in the last quarter. GAMMA Investing LLC lifted its position in Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after buying an additional 9,854 shares in the last quarter. XTX Topco Ltd purchased a new position in Mereo BioPharma Group during the fourth quarter worth approximately $133,000. Walleye Capital LLC purchased a new position in shares of Mereo BioPharma Group during the 4th quarter worth $454,000. Finally, Tema Etfs LLC purchased a new position in shares of Mereo BioPharma Group during the 4th quarter worth $3,117,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Performance

Shares of Mereo BioPharma Group stock traded down $0.01 on Wednesday, reaching $1.63. The company had a trading volume of 986,136 shares, compared to its average volume of 1,518,343. The firm's 50 day moving average price is $2.14 and its two-hundred day moving average price is $2.35. The firm has a market cap of $259.17 million, a PE ratio of -23.29 and a beta of 0.47. Mereo BioPharma Group plc - Sponsored ADR has a 52-week low of $1.47 and a 52-week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its 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 business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $7.80 million. As a group, sell-side analysts predict that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MREO shares. Needham & Company LLC set a $5.00 price target on Mereo BioPharma Group and gave the stock a "buy" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Mereo BioPharma Group currently has an average rating of "Buy" and an average target price of $7.20.

Mereo BioPharma Group Profile

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.