Renaissance Technologies LLC Decreases Stock Position in Mereo BioPharma Group plc (NASDAQ:MREO)

Renaissance Technologies LLC decreased its position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,189,471 shares of the company's stock after selling 115,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.77% of Mereo BioPharma Group worth $4,163,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. HealthInvest Partners AB raised its holdings in Mereo BioPharma Group by 95.0% in the fourth quarter. HealthInvest Partners AB now owns 390,000 shares of the company's stock worth $1,373,000 after buying an additional 190,000 shares during the last quarter. State Street Corp purchased a new stake in Mereo BioPharma Group during the 3rd quarter valued at $195,000. PFG Investments LLC raised its stake in shares of Mereo BioPharma Group by 132.0% in the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company's stock worth $138,000 after purchasing an additional 22,433 shares during the last quarter. Golden State Equity Partners boosted its position in shares of Mereo BioPharma Group by 247.7% during the fourth 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, Avanza Fonder AB bought a new stake in Mereo BioPharma Group in the 4th quarter worth about $69,000. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO traded down $0.04 during midday trading on Friday, reaching $2.51. The stock had a trading volume of 1,926,545 shares, compared to its average volume of 1,094,428. The company has a market capitalization of $398.30 million, a price-to-earnings ratio of -41.75 and a beta of 0.71. Mereo BioPharma Group plc has a 12-month low of $1.58 and a 12-month high of $5.02. The stock has a 50-day moving average of $2.36 and a 200-day moving average of $3.19.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted 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). As a group, analysts forecast that Mereo BioPharma Group plc will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a "buy" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group in a research report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $7.71.

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.