Schonfeld Strategic Advisors LLC Purchases Shares of 493,900 Mereo BioPharma Group plc (NASDAQ:MREO)

Schonfeld Strategic Advisors LLC acquired a new position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 493,900 shares of the company's stock, valued at approximately $1,729,000. Schonfeld Strategic Advisors LLC owned about 0.32% of Mereo BioPharma Group as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. purchased a new stake in Mereo BioPharma Group in the 4th quarter valued at $37,000. Jump Financial LLC bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at about $39,000. Sheets Smith Investment Management purchased a new position in Mereo BioPharma Group during the fourth quarter worth about $59,000. Virtus ETF Advisers LLC bought a new stake in Mereo BioPharma Group in the 4th quarter worth about $67,000. Finally, Avanza Fonder AB purchased a new stake in Mereo BioPharma Group in the 4th quarter valued at about $69,000. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Stock Down 4.5 %

MREO opened at $2.55 on Tuesday. The firm has a 50-day moving average price of $2.34 and a 200-day moving average price of $3.08. Mereo BioPharma Group plc has a twelve month low of $1.58 and a twelve month high of $5.02. The company has a market capitalization of $405.45 million, a price-to-earnings ratio of -42.50 and a beta of 0.53.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. began coverage on Mereo BioPharma Group in a research note on Thursday, March 27th. They issued an "overweight" rating and a $7.00 target price on the stock. Needham & Company LLC restated a "buy" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Mereo BioPharma Group has an average rating of "Buy" and an average target price of $7.71.

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.

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