Avanza Fonder AB Invests $69,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

Avanza Fonder AB acquired a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,600 shares of the company’s stock, valued at approximately $69,000.

Several other large investors also recently modified their holdings of MREO. Frazier Life Sciences Management L.P. boosted its stake in Mereo BioPharma Group by 15.8% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock worth $20,952,000 after purchasing an additional 696,408 shares during the period. State Street Corp purchased a new stake in shares of Mereo BioPharma Group in the third quarter worth about $195,000. Polar Asset Management Partners Inc. boosted its position in shares of Mereo BioPharma Group by 36.0% in the third quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock valued at $815,000 after acquiring an additional 52,500 shares during the period. Janus Henderson Group PLC grew its stake in Mereo BioPharma Group by 56.7% during the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in Mereo BioPharma Group by 108.1% during the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after acquiring an additional 53,278 shares in the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MREO. Cantor Fitzgerald raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Lifesci Capital assumed coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price for the company. Four equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $2.86 on Tuesday. Mereo BioPharma Group plc has a fifty-two week low of $2.80 and a fifty-two week high of $5.02. The firm’s 50-day simple moving average is $3.58 and its two-hundred day simple moving average is $3.98.

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.