Rock Springs Capital Management LP Has $33.60 Million Stock Holdings in Mereo BioPharma Group plc (NASDAQ:MREO)

Rock Springs Capital Management LP increased its holdings in shares of Mereo BioPharma Group plc (NASDAQ:MREO) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,599,170 shares of the company’s stock after purchasing an additional 65,000 shares during the quarter. Mereo BioPharma Group accounts for 1.3% of Rock Springs Capital Management LP’s holdings, making the stock its 29th biggest position. Rock Springs Capital Management LP owned approximately 6.19% of Mereo BioPharma Group worth $33,597,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MREO. Newbridge Financial Services Group Inc. acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter worth $37,000. Jump Financial LLC bought a new stake in shares of Mereo BioPharma Group in the fourth quarter valued at about $39,000. Sheets Smith Investment Management acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth about $59,000. Avanza Fonder AB bought a new position in shares of Mereo BioPharma Group during the fourth quarter worth about $69,000. Finally, Golden State Equity Partners raised its position in Mereo BioPharma Group by 247.7% in the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock valued at $79,000 after buying an additional 16,100 shares during the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MREO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. 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 Wednesday, April 9th. Lifesci Capital assumed coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They issued an “overweight” rating and a $7.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Mereo BioPharma Group presently has an average rating of “Buy” and an average target price of $7.71.

Mereo BioPharma Group Stock Up 8.0 %

NASDAQ:MREO opened at $2.30 on Monday. Mereo BioPharma Group plc has a 12-month low of $1.58 and a 12-month high of $5.02. The firm has a market capitalization of $365.70 million, a price-to-earnings ratio of -38.33 and a beta of 0.71. The stock’s 50 day moving average price is $2.39 and its two-hundred day moving average price is $3.22.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Equities research analysts expect that Mereo BioPharma Group plc will post -0.03 EPS for the current year.

About Mereo BioPharma Group

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.