Goldman Sachs Group Inc. Raises Stake in Mereo BioPharma Group plc – Sponsored ADR $MREO

Goldman Sachs Group Inc. boosted its holdings in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 0.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,125,920 shares of the company’s stock after purchasing an additional 6,068 shares during the period. Goldman Sachs Group Inc. owned approximately 1.34% of Mereo BioPharma Group worth $4,783,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Mereo BioPharma Group by 109.5% in the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock valued at $42,000 after acquiring an additional 9,854 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Mereo BioPharma Group by 187.9% in the fourth quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company’s stock valued at $331,000 after acquiring an additional 61,642 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in shares of Mereo BioPharma Group by 53.4% in the first quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company’s stock valued at $17,595,000 after acquiring an additional 2,722,084 shares in the last quarter. Avanza Fonder AB boosted its holdings in shares of Mereo BioPharma Group by 43.5% in the first quarter. Avanza Fonder AB now owns 28,121 shares of the company’s stock valued at $67,000 after acquiring an additional 8,521 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Mereo BioPharma Group in the fourth quarter valued at about $2,166,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Performance

MREO stock opened at $1.76 on Wednesday. The company has a market cap of $279.84 million, a P/E ratio of -25.14 and a beta of 0.47. The company’s 50-day moving average price is $1.74 and its 200 day moving average price is $2.20. Mereo BioPharma Group plc – Sponsored ADR has a 52 week low of $1.47 and a 52 week high of $4.72.

Mereo BioPharma Group (NASDAQ:MREO) last announced its earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $7.80 million. On average, equities research analysts expect that Mereo BioPharma Group plc – Sponsored ADR will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MREO. Wall Street Zen raised shares of Mereo BioPharma Group from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Monday, August 25th. Finally, Needham & Company LLC set a $5.00 price objective on shares of Mereo BioPharma Group and gave the stock a “buy” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $7.40.

Mereo BioPharma Group 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.