Mereo BioPharma Group (NASDAQ:MREO) Upgraded at Wall Street Zen

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Needham & Company LLC set a $5.00 target price on shares of Mereo BioPharma Group and gave the company a “buy” rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mereo BioPharma Group presently has an average rating of “Buy” and an average target price of $7.20.

Mereo BioPharma Group Trading Up 1.8%

Mereo BioPharma Group stock opened at $1.74 on Friday. The company has a fifty day simple moving average of $2.20 and a 200-day simple moving average of $2.37. Mereo BioPharma Group has a 12-month low of $1.47 and a 12-month high of $5.02. The stock has a market cap of $276.66 million, a P/E ratio of -24.86 and a beta of 0.47.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $7.80 million. As a group, sell-side analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jump Financial LLC acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth about $39,000. GAMMA Investing LLC boosted its holdings in Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company’s stock worth $42,000 after buying an additional 9,854 shares in the last quarter. Significant Wealth Partners LLC boosted its holdings in Mereo BioPharma Group by 61.7% during the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock worth $60,000 after buying an additional 8,490 shares in the last quarter. Virtus ETF Advisers LLC purchased a new stake in Mereo BioPharma Group during the fourth quarter worth about $67,000. Finally, Avanza Fonder AB boosted its holdings in Mereo BioPharma Group by 43.5% during the first quarter. Avanza Fonder AB now owns 28,121 shares of the company’s stock worth $67,000 after buying an additional 8,521 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.