NEOS Investment Management LLC Has $2.89 Million Stake in Mereo BioPharma Group plc (NASDAQ:MREO)

NEOS Investment Management LLC reduced its position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 824,603 shares of the company’s stock after selling 10,591 shares during the period. NEOS Investment Management LLC owned about 0.53% of Mereo BioPharma Group worth $2,886,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sheets Smith Investment Management acquired a new position in Mereo BioPharma Group during the 4th quarter worth approximately $59,000. HealthInvest Partners AB boosted its holdings in Mereo BioPharma Group by 95.0% during the fourth quarter. HealthInvest Partners AB now owns 390,000 shares of the company’s stock worth $1,373,000 after purchasing an additional 190,000 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Mereo BioPharma Group in the fourth quarter valued at $37,000. Golden State Equity Partners increased its stake in Mereo BioPharma Group by 247.7% in the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock valued at $79,000 after buying an additional 16,100 shares during the last quarter. Finally, PFG Investments LLC lifted its position in Mereo BioPharma Group by 132.0% during the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock worth $138,000 after buying an additional 22,433 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Stock Down 4.6 %

MREO stock opened at $2.30 on Friday. Mereo BioPharma Group plc has a one year low of $2.22 and a one year high of $5.02. The company has a fifty day moving average price of $2.72 and a two-hundred day moving average price of $3.49.

Mereo BioPharma Group (NASDAQ:MREO) last announced its 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). Research analysts forecast that Mereo BioPharma Group plc will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Jefferies Financial Group initiated coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 price target 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 report on Wednesday. Lifesci Capital assumed coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Mereo BioPharma Group in a research note on Thursday. They issued an “overweight” rating and a $7.00 price target for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Mereo BioPharma Group currently has a consensus rating of “Buy” and a consensus price target of $7.71.

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.