Avanza Fonder AB Grows Position in Mereo BioPharma Group plc – Sponsored ADR $MREO

Avanza Fonder AB raised its holdings in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 36.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,235 shares of the company’s stock after purchasing an additional 10,114 shares during the quarter. Avanza Fonder AB’s holdings in Mereo BioPharma Group were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MREO. Frazier Life Sciences Management L.P. lifted its holdings in Mereo BioPharma Group by 53.4% during the first quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company’s stock valued at $17,595,000 after purchasing an additional 2,722,084 shares during the last quarter. Aberdeen Group plc purchased a new stake in Mereo BioPharma Group during the first quarter valued at about $4,924,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at about $3,377,000. Woodline Partners LP purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at about $2,166,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Mereo BioPharma Group by 62.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock valued at $3,530,000 after purchasing an additional 604,200 shares during the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $1.85 on Tuesday. Mereo BioPharma Group plc – Sponsored ADR has a one year low of $1.47 and a one year high of $4.72. The firm’s 50 day simple moving average is $1.72 and its two-hundred day simple moving average is $2.18. The stock has a market capitalization of $294.15 million, a P/E ratio of -26.43 and a beta of 0.47.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $7.80 million. As a group, equities analysts expect that Mereo BioPharma Group plc – Sponsored ADR will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MREO shares. JPMorgan Chase & Co. upped their price objective on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Wall Street Zen upgraded Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Needham & Company LLC set a $5.00 price target on Mereo BioPharma Group and gave the company a “buy” rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $7.40.

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.