abrdn plc Purchases Shares of 1,551,082 Mereo BioPharma Group plc (NASDAQ:MREO)

abrdn plc bought a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,551,082 shares of the company’s stock, valued at approximately $3,583,000.

Several other large investors also recently modified their holdings of the stock. Clear Harbor Asset Management LLC boosted its holdings in shares of Mereo BioPharma Group by 12.3% during the third quarter. Clear Harbor Asset Management LLC now owns 63,754 shares of the company’s stock worth $82,000 after acquiring an additional 7,000 shares during the period. Formidable Asset Management LLC bought a new position in shares of Mereo BioPharma Group during the third quarter worth approximately $428,000. Tejara Capital Ltd lifted its holdings in Mereo BioPharma Group by 5.8% during the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock worth $4,147,000 after purchasing an additional 177,030 shares during the last quarter. 683 Capital Management LLC boosted its stake in Mereo BioPharma Group by 11.1% in the 3rd quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company’s stock valued at $7,740,000 after purchasing an additional 600,000 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Mereo BioPharma Group in the 3rd quarter valued at $1,032,000. 62.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MREO. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Thursday, March 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday, April 10th.

Mereo BioPharma Group Stock Down 2.5 %

NASDAQ MREO opened at $2.74 on Monday. The company has a current ratio of 6.72, a quick ratio of 6.72 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $3.23 and a 200-day moving average of $2.76. Mereo BioPharma Group plc has a 1-year low of $0.92 and a 1-year high of $4.36.

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.