964,900 Shares in Mereo BioPharma Group plc (NASDAQ:MREO) Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MREO. Newbridge Financial Services Group Inc. acquired a new position in Mereo BioPharma Group in the 4th quarter valued at approximately $37,000. Jump Financial LLC bought a new stake in shares of Mereo BioPharma Group during the 4th quarter worth $39,000. Sheets Smith Investment Management bought a new stake in Mereo BioPharma Group during the fourth quarter valued at about $59,000. Virtus ETF Advisers LLC acquired a new stake in Mereo BioPharma Group in the 4th quarter valued at approximately $67,000. Finally, Graham Capital Management L.P. increased its position in Mereo BioPharma Group by 74.7% during 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. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Stock Up 11.4%

Shares of MREO traded up $0.28 during mid-day trading on Friday, hitting $2.74. 2,193,956 shares of the company's stock were exchanged, compared to its average volume of 1,126,907. The firm has a market cap of $435.66 million, a price-to-earnings ratio of -39.14 and a beta of 0.53. The stock's 50-day simple moving average is $2.28 and its 200-day simple moving average is $2.81. Mereo BioPharma Group plc has a 52 week low of $1.58 and a 52 week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its quarterly earnings data 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). Analysts forecast that Mereo BioPharma Group plc will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 13th. JPMorgan Chase & Co. began coverage on Mereo BioPharma Group in a research note on Thursday, March 27th. They issued an "overweight" rating and a $7.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Six investment 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.com, the stock presently has an average rating of "Buy" and an average 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.