Adage Capital Partners GP L.L.C. Has $30.50 Million Stake in Mereo BioPharma Group plc (NASDAQ:MREO)

Adage Capital Partners GP L.L.C. lowered its position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,715,013 shares of the company's stock after selling 1,000,000 shares during the period. Adage Capital Partners GP L.L.C. owned 5.62% of Mereo BioPharma Group worth $30,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HealthInvest Partners AB boosted its position in shares of Mereo BioPharma Group by 95.0% in the fourth quarter. HealthInvest Partners AB now owns 390,000 shares of the company's stock valued at $1,373,000 after acquiring an additional 190,000 shares during the period. Walleye Capital LLC bought a new stake in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $454,000. Rock Springs Capital Management LP boosted its position in shares of Mereo BioPharma Group by 0.7% in the fourth quarter. Rock Springs Capital Management LP now owns 9,599,170 shares of the company's stock valued at $33,597,000 after acquiring an additional 65,000 shares during the period. State Street Corp bought a new stake in shares of Mereo BioPharma Group in the third quarter valued at approximately $195,000. Finally, XTX Topco Ltd bought a new stake in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $133,000. Institutional investors and hedge funds own 62.83% of the company's stock.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO traded up $0.03 during midday trading on Thursday, reaching $2.62. 373,016 shares of the company traded hands, compared to its average volume of 1,092,897. The firm has a market cap of $415.79 million, a PE ratio of -43.58 and a beta of 0.71. The stock's 50-day simple moving average is $2.34 and its 200-day simple moving average is $3.14. Mereo BioPharma Group plc has a 12 month low of $1.58 and a 12 month high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). On average, equities research analysts expect that Mereo BioPharma Group plc will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MREO shares. JPMorgan Chase & Co. started coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 target price for the company. 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mereo BioPharma Group currently has a consensus 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.