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

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.00.

MREO has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Thursday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Friday, January 16th. Jefferies Financial Group cut shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Lifesci Capital downgraded shares of Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a research note on Monday, December 29th.

Mereo BioPharma Group Stock Down 4.0%

Mereo BioPharma Group stock opened at $0.37 on Friday. The firm has a fifty day simple moving average of $0.64 and a two-hundred day simple moving average of $1.45. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.05. The company has a market capitalization of $58.97 million, a PE ratio of -6.18 and a beta of 0.37.

Institutional Trading of Mereo BioPharma Group

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in Mereo BioPharma Group by 0.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after purchasing an additional 6,068 shares during the period. Woodline Partners LP grew its position in shares of Mereo BioPharma Group by 53.2% in the 1st quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock worth $2,133,000 after buying an additional 329,202 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 worth $3,530,000 after buying an additional 604,200 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Mereo BioPharma Group during the second quarter valued at approximately $188,000. Finally, Paloma Partners Management Co bought a new position in shares of Mereo BioPharma Group during the second quarter valued at approximately $804,000. 62.83% of the stock is owned by institutional investors.

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.