Mereo BioPharma Group plc – Sponsored ADR $MREO Shares Purchased by 683 Capital Management LLC

683 Capital Management LLC boosted its position in Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 208.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,025,000 shares of the company’s stock after purchasing an additional 10,150,000 shares during the quarter. 683 Capital Management LLC owned about 0.09% of Mereo BioPharma Group worth $6,261,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Aberdeen Group plc lifted its position in Mereo BioPharma Group by 82.9% in the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock worth $11,410,000 after purchasing an additional 2,509,827 shares during the period. UBS Group AG lifted its position in shares of Mereo BioPharma Group by 159.9% during the 3rd quarter. UBS Group AG now owns 970,667 shares of the company’s stock valued at $2,000,000 after acquiring an additional 597,162 shares during the last quarter. Logos Global Management LP lifted its position in shares of Mereo BioPharma Group by 270.0% during the 4th quarter. Logos Global Management LP now owns 1,850,000 shares of the company’s stock valued at $771,000 after acquiring an additional 1,350,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $188,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $167,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MREO shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, BTIG Research reiterated a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Up 6.2%

MREO opened at $0.31 on Thursday. The firm has a market capitalization of $49.48 million, a P/E ratio of -6.20 and a beta of 0.33. The stock has a fifty day moving average of $0.30 and a 200-day moving average of $0.63. Mereo BioPharma Group plc – Sponsored ADR has a 12-month low of $0.20 and a 12-month high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, analysts expect that Mereo BioPharma Group plc – Sponsored ADR will post -0.02 earnings per share for the current fiscal year.

Mereo BioPharma Group Profile

Mereo BioPharma Group plc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for rare diseases, oncology and severe respiratory conditions. The company pursues an asset‐centric model, in which it in-licenses or acquires clinical-stage small molecules and monoclonal antibodies with established safety profiles. By concentrating resources on a select number of programs, Mereo aims to accelerate proof-of-concept studies and maximize the potential value of each therapeutic candidate.

Mereo’s pipeline includes investigational therapies for skeletal disorders, such as setrusumab (BPS-804) for osteogenesis imperfecta, and treatments for acute and chronic respiratory diseases.