Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives Average Recommendation of “Hold” from Analysts

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $3.25.

Several research firms have commented on MREO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. BTIG Research reaffirmed a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $0.32 on Wednesday. The firm has a fifty day moving average price of $0.32 and a 200-day moving average price of $0.35. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $2.37. The stock has a market cap of $51.41 million, a PE ratio of -6.44 and a beta of 0.36.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, research analysts expect that Mereo BioPharma Group will post -0.02 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Large investors have recently bought and sold shares of the business. Marex Group plc acquired a new stake in Mereo BioPharma Group during the second quarter worth about $27,000. Virtu Financial LLC purchased a new stake in shares of Mereo BioPharma Group in the 3rd quarter valued at approximately $33,000. Forefront Analytics LLC increased its holdings in shares of Mereo BioPharma Group by 302.2% during the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after buying an additional 96,010 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at approximately $48,000. Finally, Virtus Investment Advisers LLC lifted its holdings in Mereo BioPharma Group by 199.5% in the fourth 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 during the last quarter. Hedge funds and other 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.