Marshall Wace LLP Sells 162,195 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Marshall Wace LLP cut its holdings in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 866,317 shares of the company's stock after selling 162,195 shares during the quarter. Marshall Wace LLP owned about 0.56% of Mereo BioPharma Group worth $3,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MREO. Newbridge Financial Services Group Inc. purchased a new position in Mereo BioPharma Group in the 4th quarter worth about $37,000. Jump Financial LLC acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $39,000. Sheets Smith Investment Management purchased a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $59,000. Avanza Fonder AB acquired a new position in Mereo BioPharma Group in the 4th quarter worth approximately $69,000. Finally, 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 in the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on MREO shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Wednesday, April 9th. 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 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $7.71.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO traded up $0.13 during mid-day trading on Friday, reaching $2.73. 442,213 shares of the company traded hands, compared to its average volume of 1,088,596. The company's fifty day moving average is $2.33 and its two-hundred day moving average is $3.13. Mereo BioPharma Group plc has a fifty-two week low of $1.58 and a fifty-two week high of $5.02. The stock has a market cap of $433.28 million, a PE ratio of -45.25 and a beta of 0.71.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Research analysts forecast 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.