Janus Henderson Group PLC Acquires 4,776,697 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Janus Henderson Group PLC lifted its holdings in shares of Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,122,563 shares of the company's stock after purchasing an additional 4,776,697 shares during the period. Janus Henderson Group PLC owned 11.04% of Mereo BioPharma Group worth $59,843,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Graham Capital Management L.P. raised its position in 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 during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Mereo BioPharma Group in the fourth quarter valued at approximately $37,000. Jump Financial LLC bought a new position in shares of Mereo BioPharma Group during the 4th quarter worth $39,000. Golden State Equity Partners increased its stake in shares of 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 in the last quarter. Finally, Sheets Smith Investment Management purchased a new stake in Mereo BioPharma Group during the 4th quarter worth about $59,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They set an "overweight" rating and a $7.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, May 13th. 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, Mereo BioPharma Group presently has a consensus rating of "Buy" and a consensus target price of $7.71.

Mereo BioPharma Group Price Performance

Shares of Mereo BioPharma Group stock traded up $0.01 during trading on Monday, hitting $2.25. 346,814 shares of the company's stock traded hands, compared to its average volume of 1,109,943. The business has a 50-day simple moving average of $2.32 and a 200-day simple moving average of $2.96. The stock has a market capitalization of $356.96 million, a P/E ratio of -32.07 and a beta of 0.53. Mereo BioPharma Group plc has a 1 year low of $1.58 and a 1 year high of $5.02.

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

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.