Mereo BioPharma Group’s (MREO) “Market Perform” Rating Reiterated at Lifesci Capital

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “market perform” rating reiterated by investment analysts at Lifesci Capital in a research note issued to investors on Monday,Benzinga reports.

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Wednesday, October 8th. BTIG Research lowered their price objective on Mereo BioPharma Group from $6.00 to $1.00 and set a “buy” rating for the company in a research report on Monday. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Mereo BioPharma Group in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.25.

Mereo BioPharma Group Price Performance

NASDAQ:MREO traded down $2.03 on Monday, reaching $0.28. The stock had a trading volume of 176,790,703 shares, compared to its average volume of 2,319,935. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $3.84. The company has a market cap of $44.72 million, a price-to-earnings ratio of -4.68 and a beta of 0.45. The firm’s fifty day moving average is $1.98 and its two-hundred day moving average is $2.00.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.01) EPS for the quarter. As a group, research analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. increased its position in shares of Mereo BioPharma Group by 20.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 9,440,112 shares of the company’s stock worth $25,583,000 after acquiring an additional 1,620,249 shares during the last quarter. Aberdeen Group plc boosted its holdings in Mereo BioPharma Group by 82.9% in the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after purchasing an additional 2,509,827 shares during the last quarter. 683 Capital Management LLC grew its stake in Mereo BioPharma Group by 1.9% during the 1st quarter. 683 Capital Management LLC now owns 4,635,000 shares of the company’s stock valued at $10,429,000 after purchasing an additional 85,000 shares in the last quarter. Clearline Capital LP increased its holdings in Mereo BioPharma Group by 6.0% during the 3rd quarter. Clearline Capital LP now owns 3,834,163 shares of the company’s stock worth $7,898,000 after purchasing an additional 216,000 shares during the last quarter. Finally, 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 worth $4,783,000 after purchasing an additional 6,068 shares during the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.