Mereo BioPharma Group plc – Sponsored ADR $MREO Stake Boosted by 683 Capital Management LLC

683 Capital Management LLC grew its stake in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 208.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 approximately 9.44% of Mereo BioPharma Group worth $6,261,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Logos Global Management LP grew its holdings in shares of Mereo BioPharma Group by 270.0% during the fourth quarter. Logos Global Management LP now owns 1,850,000 shares of the company’s stock valued at $771,000 after purchasing an additional 1,350,000 shares during the last quarter. Luminus Management LLC bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $165,000. ADAR1 Capital Management LLC bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $63,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Mereo BioPharma Group by 251.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after purchasing an additional 4,357,657 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $48,000. 62.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Mereo BioPharma Group Price Performance

Shares of MREO stock opened at $0.31 on Thursday. Mereo BioPharma Group plc – Sponsored ADR has a 12-month low of $0.20 and a 12-month high of $3.05. The firm has a market capitalization of $49.48 million, a price-to-earnings ratio of -6.20 and a beta of 0.33. The business has a 50 day simple moving average of $0.30 and a 200 day simple moving average of $0.63.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). On average, equities analysts anticipate that Mereo BioPharma Group plc – Sponsored ADR will post -0.02 EPS 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.