UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Mereo BioPharma Group plc (NASDAQ:MREO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 964,900 shares of the company's stock, valued at approximately $3,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.62% of Mereo BioPharma Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Graham Capital Management L.P. boosted its holdings in shares of Mereo BioPharma Group by 74.7% in the 4th quarter. Graham Capital Management L.P. now owns 22,189 shares of the company's stock valued at $78,000 after buying an additional 9,490 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at approximately $37,000. Jump Financial LLC acquired a new stake in Mereo BioPharma Group in the fourth quarter valued at approximately $39,000. Golden State Equity Partners grew its holdings in Mereo BioPharma Group by 247.7% in the fourth 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. Finally, Sheets Smith Investment Management purchased a new position in Mereo BioPharma Group in the fourth quarter worth $59,000. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Stock Up 11.4%

Shares of MREO traded up $0.28 during trading hours on Friday, reaching $2.74. 2,193,957 shares of the company traded hands, compared to its average volume of 1,132,149. The business has a fifty day moving average price of $2.29 and a 200-day moving average price of $2.80. Mereo BioPharma Group plc has a 12-month low of $1.58 and a 12-month high of $5.02. The stock has a market capitalization of $435.66 million, a P/E ratio of -39.14 and a beta of 0.47.

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 the consensus estimate of ($0.01) by ($0.01). As a group, research analysts predict that Mereo BioPharma Group plc will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.