Tema Etfs LLC Makes New Investment in Mereo BioPharma Group plc (NASDAQ:MREO)

Tema Etfs LLC purchased a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 890,548 shares of the company's stock, valued at approximately $3,117,000. Mereo BioPharma Group accounts for approximately 1.3% of Tema Etfs LLC's holdings, making the stock its 25th largest holding. Tema Etfs LLC owned 0.57% of Mereo BioPharma Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MREO. Avanza Fonder AB purchased a new position in shares of Mereo BioPharma Group during the fourth quarter worth approximately $69,000. PFG Investments LLC boosted its stake in Mereo BioPharma Group by 132.0% during the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company's stock worth $138,000 after purchasing an additional 22,433 shares during the period. Golden State Equity Partners grew its position in Mereo BioPharma Group by 247.7% during the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company's stock worth $79,000 after purchasing an additional 16,100 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Mereo BioPharma Group in the fourth quarter valued at $37,000. Finally, HealthInvest Partners AB increased its stake in Mereo BioPharma Group by 95.0% in the fourth quarter. HealthInvest Partners AB now owns 390,000 shares of the company's stock valued at $1,373,000 after purchasing an additional 190,000 shares during the period. Hedge funds and other institutional investors own 62.83% of the company's stock.

Analyst Upgrades and Downgrades

MREO has been the subject of several recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. assumed coverage on Mereo BioPharma Group in a report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Mereo BioPharma Group has an average rating of "Buy" and a consensus price target of $7.71.

Mereo BioPharma Group Stock Performance

MREO traded down $0.06 during trading on Wednesday, reaching $2.24. The company's stock had a trading volume of 969,161 shares, compared to its average volume of 1,117,532. The company's fifty day moving average price is $2.31 and its 200-day moving average price is $2.94. Mereo BioPharma Group plc has a 52-week low of $1.58 and a 52-week high of $5.02. The company has a market capitalization of $356.16 million, a price-to-earnings ratio of -32.00 and a beta of 0.53.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Equities analysts predict that Mereo BioPharma Group plc will post -0.03 earnings per share for the current year.

Mereo BioPharma Group Company 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.