10,700 Shares in Mereo BioPharma Group plc (NASDAQ:MREO) Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. purchased a new position in Mereo BioPharma Group plc (NASDAQ:MREO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,700 shares of the company’s stock, valued at approximately $37,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after purchasing an additional 3,928 shares in the last quarter. Avanza Fonder AB bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $69,000. Golden State Equity Partners increased its stake in shares of Mereo BioPharma Group by 247.7% during the fourth 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 in the last quarter. PFG Investments LLC increased its stake in shares of Mereo BioPharma Group by 132.0% during the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock valued at $138,000 after purchasing an additional 22,433 shares in the last quarter. Finally, State Street Corp bought a new position in shares of Mereo BioPharma Group during the third quarter valued at approximately $195,000. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Stock Performance

Shares of MREO stock opened at $2.90 on Wednesday. Mereo BioPharma Group plc has a 12-month low of $2.80 and a 12-month high of $5.02. The firm’s 50 day moving average is $3.36 and its 200 day moving average is $3.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 target price for the company. Lifesci Capital began coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $7.83.

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.