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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.00.

MREO has been the subject of a number of research analyst reports. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Needham & Company LLC cut their price target on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Wall Street Zen downgraded Mereo BioPharma Group from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research report on Monday, December 29th.

Mereo BioPharma Group Stock Performance

NASDAQ MREO opened at $0.42 on Wednesday. The stock has a market cap of $67.07 million, a price-to-earnings ratio of -7.03 and a beta of 0.37. The business has a 50 day simple moving average of $1.23 and a 200 day simple moving average of $1.61. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $3.26.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Marex Group plc acquired a new stake in Mereo BioPharma Group in the 2nd quarter valued at $27,000. State of New Jersey Common Pension Fund D bought a new position in shares of Mereo BioPharma Group in the 3rd quarter valued at about $32,000. Virtu Financial LLC acquired a new stake in shares of Mereo BioPharma Group in the third quarter valued at about $33,000. Squarepoint Ops LLC increased its position in shares of Mereo BioPharma Group by 45.4% in the third 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 last quarter. Finally, Forefront Analytics LLC raised its holdings in Mereo BioPharma Group by 73.4% during the third quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock worth $68,000 after acquiring an additional 14,042 shares in the last quarter. Institutional investors own 62.83% of the company’s stock.

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.