Mereo BioPharma Group Target of Unusually High Options Trading (NASDAQ:MREO)

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the target of unusually large options trading on Wednesday. Stock investors acquired 15,681 call options on the stock. This represents an increase of 1,154% compared to the typical daily volume of 1,250 call options.

Wall Street Analyst Weigh In

Several research firms have recently commented on MREO. JPMorgan Chase & Co. lifted their price target on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Wednesday, October 8th. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen raised shares of Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO traded down $0.01 during trading hours on Wednesday, reaching $2.18. 860,038 shares of the stock were exchanged, compared to its average volume of 1,659,677. The stock’s fifty day simple moving average is $1.93 and its 200 day simple moving average is $2.02. Mereo BioPharma Group has a 52 week low of $1.47 and a 52 week high of $3.92. The firm has a market capitalization of $346.11 million, a price-to-earnings ratio of -36.25 and a beta of 0.45.

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

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. increased its stake in Mereo BioPharma Group by 53.4% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company’s stock worth $17,595,000 after acquiring an additional 2,722,084 shares during the period. Aberdeen Group plc lifted its position in Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock worth $11,410,000 after purchasing an additional 2,509,827 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $3,928,000. Blue Owl Capital Holdings LP acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter worth $2,575,000. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Mereo BioPharma Group by 90.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,732,724 shares of the company’s stock valued at $3,569,000 after buying an additional 823,084 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.