Mereo BioPharma Group (NASDAQ:MREO) Lowered to Sell Rating by Wall Street Zen

Mereo BioPharma Group (NASDAQ:MREO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other analysts have also recently issued reports on MREO. Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the stock a “buy” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. assumed coverage on Mereo BioPharma Group in a research note on Thursday, March 27th. They set an “overweight” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.20.

Mereo BioPharma Group Trading Down 0.6%

Mereo BioPharma Group stock opened at $1.77 on Friday. Mereo BioPharma Group has a 1 year low of $1.57 and a 1 year high of $5.02. The company has a market cap of $281.43 million, a PE ratio of -25.29 and a beta of 0.46. The company’s 50-day moving average is $2.46 and its two-hundred day moving average is $2.59.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Research analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Mereo BioPharma Group

Several large investors have recently made changes to their positions in the stock. Significant Wealth Partners LLC boosted its holdings in shares of Mereo BioPharma Group by 61.7% in the 2nd quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock valued at $60,000 after buying an additional 8,490 shares during the last quarter. Avanza Fonder AB boosted its holdings in shares of Mereo BioPharma Group by 36.0% in the 2nd quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock valued at $104,000 after buying an additional 10,114 shares during the last quarter. Atle Fund Management AB boosted its holdings in shares of Mereo BioPharma Group by 96.1% in the 2nd quarter. Atle Fund Management AB now owns 764,901 shares of the company’s stock valued at $2,073,000 after buying an additional 374,901 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mereo BioPharma Group by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after buying an additional 6,068 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Mereo BioPharma Group by 62.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock valued at $3,530,000 after buying an additional 604,200 shares during the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.