abrdn plc bought a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,551,082 shares of the company's stock, valued at approximately $3,583,000. abrdn plc owned 1.24% of Mereo BioPharma Group at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. bought a new position in shares of Mereo BioPharma Group in the 3rd quarter worth about $1,032,000. Tejara Capital Ltd raised its position in shares of Mereo BioPharma Group by 5.8% in the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company's stock worth $4,147,000 after acquiring an additional 177,030 shares in the last quarter. Formidable Asset Management LLC bought a new position in shares of Mereo BioPharma Group in the 3rd quarter worth about $428,000. 683 Capital Management LLC raised its position in shares of Mereo BioPharma Group by 11.1% in the 3rd quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company's stock worth $7,740,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its stake in shares of Mereo BioPharma Group by 12.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 63,754 shares of the company's stock worth $82,000 after buying an additional 7,000 shares during the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.
Mereo BioPharma Group Price Performance
Mereo BioPharma Group stock traded up $0.02 during trading on Monday, hitting $2.76. The stock had a trading volume of 530,508 shares, compared to its average volume of 1,561,134. Mereo BioPharma Group plc has a 1 year low of $0.92 and a 1 year high of $4.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.72 and a quick ratio of 6.72. The stock's 50 day moving average is $3.21 and its two-hundred day moving average is $2.77.
Wall Street Analyst Weigh In
Several equities analysts recently commented on MREO shares. Needham & Company LLC reiterated a "buy" rating and issued a $6.00 price objective on shares of Mereo BioPharma Group in a research note on Wednesday, April 10th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Thursday, March 28th.
Check Out Our Latest Stock Report on Mereo BioPharma Group
Mereo BioPharma Group Company Profile
(
Free Report)
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.
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