Mereo BioPharma Group plc (NASDAQ:MREO) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lessened its stake in Mereo BioPharma Group plc (NASDAQ:MREO) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 169,977 shares of the company’s stock after selling 28,323 shares during the period. Polar Asset Management Partners Inc.’s holdings in Mereo BioPharma Group were worth $595,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MREO. Janus Henderson Group PLC raised its stake in shares of Mereo BioPharma Group by 38.7% in the 4th quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company’s stock valued at $59,843,000 after purchasing an additional 4,776,697 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at about $3,377,000. Tema Etfs LLC acquired a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at about $3,117,000. Woodline Partners LP bought a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at about $2,166,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at about $1,729,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Trading Down 2.7%

NASDAQ MREO opened at $2.18 on Wednesday. Mereo BioPharma Group plc has a 52 week low of $1.58 and a 52 week high of $5.02. The stock has a market cap of $346.62 million, a price-to-earnings ratio of -31.14 and a beta of 0.53. The company has a 50-day moving average price of $2.27 and a two-hundred day moving average price of $2.88.

Mereo BioPharma Group (NASDAQ:MREO) last posted its earnings results on Tuesday, May 13th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). As a group, equities research analysts expect that Mereo BioPharma Group plc will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Mereo BioPharma Group in a research report on Thursday, March 27th. They set an “overweight” rating and a $7.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $7.71.

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.