Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Given Consensus Rating of “Hold” by Brokerages

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received an average rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.40.

Several research firms have weighed in on MREO. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research report on Monday, December 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Wednesday, October 8th. Lifesci Capital cut shares of Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a research note on Monday, December 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday, December 29th. Finally, Jefferies Financial Group cut shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of Mereo BioPharma Group by 0.3% in the first 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 in the last quarter. Significant Wealth Partners LLC raised its holdings in 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 acquiring an additional 8,490 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Mereo BioPharma Group by 45.4% during the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after acquiring an additional 9,387 shares during the period. Marex Group plc acquired a new stake in shares of Mereo BioPharma Group during the 2nd quarter worth $27,000. Finally, Avanza Fonder AB grew its holdings in shares of Mereo BioPharma Group by 36.0% during the 2nd quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock worth $104,000 after purchasing an additional 10,114 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Trading Up 28.6%

Shares of MREO opened at $0.49 on Friday. The stock has a market capitalization of $78.67 million, a price-to-earnings ratio of -8.24 and a beta of 0.42. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.76. The firm has a fifty day simple moving average of $1.65 and a 200 day simple moving average of $1.84.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.01) EPS for the quarter. As a group, research analysts predict that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

About Mereo BioPharma Group

Mereo BioPharma Group plc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for rare diseases, oncology and severe respiratory conditions. The company pursues an asset‐centric model, in which it in-licenses or acquires clinical-stage small molecules and monoclonal antibodies with established safety profiles. By concentrating resources on a select number of programs, Mereo aims to accelerate proof-of-concept studies and maximize the potential value of each therapeutic candidate.

Mereo’s pipeline includes investigational therapies for skeletal disorders, such as setrusumab (BPS-804) for osteogenesis imperfecta, and treatments for acute and chronic respiratory diseases.