Woodline Partners LP Purchases Shares of 618,784 Mereo BioPharma Group plc (NASDAQ:MREO)

Woodline Partners LP bought a new stake in shares of Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 618,784 shares of the company's stock, valued at approximately $2,166,000. Woodline Partners LP owned about 0.40% of Mereo BioPharma Group at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Mereo BioPharma Group Trading Down 2.5%

NASDAQ:MREO traded down $0.06 on Friday, hitting $2.16. 180,047 shares of the company's stock traded hands, compared to its average volume of 1,105,385. Mereo BioPharma Group plc has a 1 year low of $1.58 and a 1 year high of $5.02. The firm has a 50-day moving average price of $2.26 and a 200-day moving average price of $2.86. The company has a market cap of $342.65 million, a PE ratio of -30.79 and a beta of 0.53.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, research analysts forecast that Mereo BioPharma Group plc will post -0.03 EPS for the current fiscal 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.