Schonfeld Strategic Advisors LLC Makes New Investment in Mereo BioPharma Group plc (NASDAQ:MREO)

Schonfeld Strategic Advisors LLC acquired a new stake in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 493,900 shares of the company's stock, valued at approximately $1,729,000. Schonfeld Strategic Advisors LLC owned approximately 0.32% of Mereo BioPharma Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MREO. Avanza Fonder AB bought a new position in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $69,000. PFG Investments LLC boosted its holdings in Mereo BioPharma Group by 132.0% during the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company's stock worth $138,000 after buying an additional 22,433 shares in the last quarter. Golden State Equity Partners boosted its holdings in Mereo BioPharma Group by 247.7% during the fourth quarter. Golden State Equity Partners now owns 22,600 shares of the company's stock worth $79,000 after buying an additional 16,100 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Mereo BioPharma Group during the fourth quarter worth approximately $37,000. Finally, HealthInvest Partners AB boosted its holdings in Mereo BioPharma Group by 95.0% during the fourth quarter. HealthInvest Partners AB now owns 390,000 shares of the company's stock worth $1,373,000 after buying an additional 190,000 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO traded down $0.01 during mid-day trading on Friday, hitting $2.41. The stock had a trading volume of 815,944 shares, compared to its average volume of 1,100,132. The company has a market cap of $383.19 million, a PE ratio of -40.17 and a beta of 0.53. Mereo BioPharma Group plc has a 12-month low of $1.58 and a 12-month high of $5.02. The company's 50 day moving average is $2.34 and its 200-day moving average is $3.03.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly 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). On average, equities research analysts predict that Mereo BioPharma Group plc will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MREO. Cantor Fitzgerald restated an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. JPMorgan Chase & Co. began coverage on shares of Mereo BioPharma Group in a report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price for the company. 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 Wednesday, April 9th. 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, the stock has a consensus rating of "Buy" and an average price target of $7.71.

Mereo BioPharma Group 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.