Affinity Asset Advisors LLC trimmed its stake in Mereo BioPharma Group plc (NASDAQ:MREO) by 27.8% in the second quarter, HoldingsChannel.com reports. The fund owned 650,000 shares of the company’s stock after selling 250,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Mereo BioPharma Group were worth $2,061,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MREO. Caas Capital Management LP purchased a new stake in shares of Mereo BioPharma Group in the first quarter worth about $34,000. Resources Investment Advisors LLC. acquired a new stake in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $41,000. Windsor Creek Advisors LLC bought a new position in Mereo BioPharma Group in the 2nd quarter worth approximately $48,000. Legal & General Group Plc bought a new position in Mereo BioPharma Group in the 2nd quarter worth approximately $50,000. Finally, Squarepoint Ops LLC bought a new position in Mereo BioPharma Group in the 1st quarter worth approximately $60,000.
NASDAQ MREO traded up $0.04 on Thursday, reaching $2.26. 1,715 shares of the stock traded hands, compared to its average volume of 1,028,215. The firm’s fifty day simple moving average is $2.51 and its 200 day simple moving average is $2.96. Mereo BioPharma Group plc has a 12 month low of $1.90 and a 12 month high of $4.71.
Mereo BioPharma Group Plc is a biopharmaceutical company, which engages in the development and commercialization of therapeutics that aim to improve outcomes for oncology and rare diseases. Its portfolio include Etigilimab (MPH-313), Alvelestat (MPH-966), Setrusumab (BPS-804), Navicixizumab (OMP-305B83), Acumapimod (BCT-197), and Leflutrozole (BGS-649).
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