Aberdeen Group plc Buys New Holdings in Mereo BioPharma Group plc – Sponsored ADR $MREO

Aberdeen Group plc purchased a new position in Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,188,354 shares of the company’s stock, valued at approximately $4,924,000.

A number of other institutional investors have also added to or reduced their stakes in MREO. Jump Financial LLC bought a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock valued at $42,000 after acquiring an additional 9,854 shares in the last quarter. Virtus ETF Advisers LLC bought a new stake in Mereo BioPharma Group in the 4th quarter valued at $67,000. Graham Capital Management L.P. increased its holdings in Mereo BioPharma Group by 74.7% in the 4th quarter. Graham Capital Management L.P. now owns 22,189 shares of the company’s stock valued at $78,000 after acquiring an additional 9,490 shares during the last quarter. Finally, Avanza Fonder AB lifted its stake in Mereo BioPharma Group by 43.5% in the 1st quarter. Avanza Fonder AB now owns 28,121 shares of the company’s stock worth $67,000 after purchasing an additional 8,521 shares in the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC set a $5.00 price objective on Mereo BioPharma Group and gave the company a “buy” rating in a research report on Thursday, July 10th. Wall Street Zen raised Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $7.20.

Mereo BioPharma Group Trading Down 0.6%

Shares of NASDAQ:MREO opened at $1.63 on Thursday. The company has a market cap of $259.17 million, a price-to-earnings ratio of -23.29 and a beta of 0.47. Mereo BioPharma Group plc – Sponsored ADR has a 12 month low of $1.47 and a 12 month high of $5.02. The company has a 50-day moving average price of $2.14 and a 200 day moving average price of $2.35.

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