683 Capital Management LLC Lowers Stock Holdings in Mereo BioPharma Group plc – Sponsored ADR $MREO

683 Capital Management LLC cut its holdings in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 6.1% during the second quarter, Holdings Channel reports. The firm owned 4,350,000 shares of the company’s stock after selling 285,000 shares during the quarter. Mereo BioPharma Group comprises about 0.8% of 683 Capital Management LLC’s holdings, making the stock its 22nd largest position. 683 Capital Management LLC’s holdings in Mereo BioPharma Group were worth $11,788,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Significant Wealth Partners LLC boosted its stake in shares of Mereo BioPharma Group by 61.7% in the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock valued at $60,000 after purchasing an additional 8,490 shares during the period. Avanza Fonder AB increased its stake in Mereo BioPharma Group by 36.0% during the 2nd quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock worth $104,000 after buying an additional 10,114 shares during the period. Forefront Analytics LLC lifted its holdings in Mereo BioPharma Group by 37.1% during the 1st quarter. Forefront Analytics LLC now owns 47,630 shares of the company’s stock worth $107,000 after buying an additional 12,877 shares in the last quarter. XTX Topco Ltd purchased a new position in Mereo BioPharma Group in the 2nd quarter valued at approximately $188,000. Finally, Paloma Partners Management Co acquired a new position in shares of Mereo BioPharma Group in the second quarter worth $804,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $2.17 on Friday. Mereo BioPharma Group plc – Sponsored ADR has a 12 month low of $1.47 and a 12 month high of $3.88. The firm has a market capitalization of $345.32 million, a PE ratio of -36.17 and a beta of 0.44. The business’s fifty day moving average price is $1.94 and its 200 day moving average price is $2.02.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.01) earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that Mereo BioPharma Group plc – Sponsored ADR will post -0.03 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MREO. Wall Street Zen upgraded Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Wednesday, October 8th. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Mereo BioPharma Group currently has an average rating of “Moderate Buy” and an average target price of $7.50.

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.