NEOS Investment Management LLC Sells 10,591 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

NEOS Investment Management LLC trimmed its holdings in shares of Mereo BioPharma Group plc (NASDAQ:MREO) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 824,603 shares of the company’s stock after selling 10,591 shares during the quarter. NEOS Investment Management LLC’s holdings in Mereo BioPharma Group were worth $2,886,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $195,000. Janus Henderson Group PLC boosted its stake in shares of Mereo BioPharma Group by 56.7% in the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after buying an additional 4,464,984 shares during the period. Frazier Life Sciences Management L.P. boosted its stake in shares of Mereo BioPharma Group by 15.8% in 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 buying an additional 696,408 shares during the period. PFG Investments LLC grew its position in Mereo BioPharma Group by 132.0% during the fourth 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. Finally, Sheets Smith Investment Management bought a new position in Mereo BioPharma Group during the 4th quarter worth $59,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MREO. 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 target price for the company. JPMorgan Chase & Co. began coverage on shares of Mereo BioPharma Group in a research report on Thursday. They set an “overweight” rating and a $7.00 price objective for the company. Lifesci Capital began coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.71.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO 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 firm has a 50 day simple moving average of $2.72 and a 200 day simple moving average of $3.49.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Sell-side analysts forecast that Mereo BioPharma Group plc will post -0.03 EPS for the current fiscal year.

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.