Verition Fund Management LLC Has $452,000 Stake in Mereo BioPharma Group plc (NASDAQ:MREO)

Verition Fund Management LLC cut its position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) by 51.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,004 shares of the company’s stock after selling 116,490 shares during the quarter. Verition Fund Management LLC owned about 0.08% of Mereo BioPharma Group worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MREO. Rubric Capital Management LP grew its holdings in Mereo BioPharma Group by 12.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after acquiring an additional 1,754,350 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in Mereo BioPharma Group during the second quarter worth approximately $24,158,000. Frazier Life Sciences Management L.P. bought a new stake in Mereo BioPharma Group in the second quarter worth approximately $15,845,000. Millennium Management LLC lifted its stake in Mereo BioPharma Group by 46.9% in the second quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after buying an additional 1,022,570 shares during the period. Finally, Integral Health Asset Management LLC lifted its stake in Mereo BioPharma Group by 86.8% in the second quarter. Integral Health Asset Management LLC now owns 1,775,000 shares of the company’s stock valued at $6,390,000 after buying an additional 825,000 shares during the period. Institutional investors own 62.83% of the company’s stock.

Analyst Upgrades and Downgrades

MREO has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday. Finally, Jefferies Financial Group began coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective on the stock. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $7.40.

Mereo BioPharma Group Price Performance

NASDAQ MREO opened at $3.85 on Thursday. The company has a fifty day simple moving average of $4.02 and a 200 day simple moving average of $4.01. Mereo BioPharma Group plc has a 12-month low of $3.17 and a 12-month high of $5.02.

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.