683 Capital Management LLC Reduces Holdings in Mereo BioPharma Group plc (NASDAQ:MREO)

683 Capital Management LLC lowered its stake in Mereo BioPharma Group plc (NASDAQ:MREO) by 6.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,550,000 shares of the company’s stock after selling 299,800 shares during the quarter. Mereo BioPharma Group makes up about 1.0% of 683 Capital Management LLC’s holdings, making the stock its 15th biggest position. 683 Capital Management LLC’s holdings in Mereo BioPharma Group were worth $15,925,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in Mereo BioPharma Group in the 4th quarter valued at $37,000. Jump Financial LLC purchased a new stake in Mereo BioPharma Group during the 4th quarter worth $39,000. Golden State Equity Partners grew its position in Mereo BioPharma Group by 247.7% in the fourth quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock valued at $79,000 after acquiring an additional 16,100 shares in the last quarter. Sheets Smith Investment Management purchased a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $59,000. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth $67,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Wednesday, April 9th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Mereo BioPharma Group in a research note on Thursday, March 27th. They issued an “overweight” rating and a $7.00 price target for the company. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $7.71.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO opened at $2.60 on Friday. Mereo BioPharma Group plc has a 1 year low of $1.58 and a 1 year high of $5.02. The stock has a fifty day moving average price of $2.33 and a two-hundred day moving average price of $3.13. The firm has a market cap of $413.40 million, a P/E ratio of -43.33 and a beta of 0.71.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, research analysts predict that Mereo BioPharma Group plc will post -0.03 earnings per share for the current fiscal 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.