Walleye Capital LLC Invests $454,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

Walleye Capital LLC purchased a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 129,629 shares of the company's stock, valued at approximately $454,000. Walleye Capital LLC owned approximately 0.08% of Mereo BioPharma Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at about $133,000. Sheets Smith Investment Management bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at about $59,000. HealthInvest Partners AB boosted its holdings in shares of 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 purchasing an additional 190,000 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Mereo BioPharma Group in the fourth quarter worth about $37,000. Finally, Golden State Equity Partners increased its holdings 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 valued at $79,000 after purchasing an additional 16,100 shares during the period. 62.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Mereo BioPharma Group Stock Down 2.1 %

Shares of MREO stock traded down $0.06 during trading hours on Tuesday, hitting $2.56. 61,854 shares of the company's stock traded hands, compared to its average volume of 1,095,378. The stock has a market cap of $406.25 million, a price-to-earnings ratio of -42.58 and a beta of 0.71. The stock's fifty day simple moving average is $2.35 and its two-hundred day simple moving average is $3.15. 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 released 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). On average, equities analysts forecast that Mereo BioPharma Group plc will post -0.03 earnings per share for the current fiscal 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.