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

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

Several equities research analysts recently weighed in on the stock. BTIG Research reiterated a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Friday, January 16th. Needham & Company LLC dropped their price target on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday, December 29th. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen cut Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Marex Group plc acquired a new stake in shares of Mereo BioPharma Group in the second quarter valued at approximately $27,000. State of New Jersey Common Pension Fund D bought a new position in Mereo BioPharma Group in the 3rd quarter worth approximately $32,000. Virtu Financial LLC acquired a new stake in Mereo BioPharma Group in the 3rd quarter valued at approximately $33,000. Graham Capital Management L.P. bought a new stake in Mereo BioPharma Group during the 4th quarter valued at $48,000. Finally, Virtus Investment Advisers LLC raised its stake in Mereo BioPharma Group by 199.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock valued at $51,000 after acquiring an additional 81,665 shares in the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $0.39 on Friday. The company’s fifty day moving average is $0.49 and its two-hundred day moving average is $1.42. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $3.05. The stock has a market capitalization of $62.22 million, a price-to-earnings ratio of -6.52 and a beta of 0.34.

Mereo BioPharma Group Company Profile

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.