Tejara Capital Ltd Sells 512,905 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Tejara Capital Ltd trimmed its position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,317,085 shares of the company’s stock after selling 512,905 shares during the period. Mereo BioPharma Group makes up approximately 5.2% of Tejara Capital Ltd’s portfolio, making the stock its 5th biggest holding. Tejara Capital Ltd’s holdings in Mereo BioPharma Group were worth $8,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MREO. Janus Henderson Group PLC boosted its stake in shares of Mereo BioPharma Group by 56.7% during the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after purchasing an additional 4,464,984 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in shares of Mereo BioPharma Group by 15.8% during the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after purchasing an additional 696,408 shares in the last quarter. Acuta Capital Partners LLC boosted its stake in shares of Mereo BioPharma Group by 86.2% during the third quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock valued at $5,181,000 after purchasing an additional 583,700 shares in the last quarter. HealthInvest Partners AB bought a new position in shares of Mereo BioPharma Group during the third quarter worth about $822,000. Finally, GSA Capital Partners LLP bought a new stake in Mereo BioPharma Group in the third quarter worth approximately $276,000. 62.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Monday, January 13th. Jefferies Financial Group began coverage on Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Lifesci Capital began coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective for the company. Four analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $7.83.

Mereo BioPharma Group Stock Up 0.4 %

Shares of NASDAQ:MREO opened at $2.63 on Tuesday. Mereo BioPharma Group plc has a 12-month low of $2.25 and a 12-month high of $5.02. The business’s 50 day moving average is $2.88 and its 200 day moving average is $3.61.

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.