Sheets Smith Investment Management Invests $59,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

Sheets Smith Investment Management bought a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,890 shares of the company’s stock, valued at approximately $59,000.

Other large investors also recently made changes to their positions in the company. State Street Corp bought a new stake in shares of Mereo BioPharma Group during the third quarter worth $195,000. GSA Capital Partners LLP bought a new stake in shares of Mereo BioPharma Group during the third quarter worth $276,000. Acuta Capital Partners LLC grew its holdings in shares of Mereo BioPharma Group by 86.2% during the third quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock worth $5,181,000 after purchasing an additional 583,700 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of 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 worth $50,865,000 after purchasing an additional 4,464,984 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in shares of Mereo BioPharma Group by 15.8% during the third 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 last quarter. Institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $2.38 on Monday. Mereo BioPharma Group plc has a 1-year low of $2.25 and a 1-year high of $5.02. The business’s 50-day moving average price is $2.79 and its two-hundred day moving average price is $3.55.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MREO shares. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Lifesci Capital initiated coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target on the stock. Jefferies Financial Group initiated coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research note on Monday, January 13th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $7.83.

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.