Mereo BioPharma Group (NASDAQ:MREO) Raised to “Hold” at Zacks Research

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

MREO has been the subject of several other research reports. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Lifesci Capital raised Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Mereo BioPharma Group has an average rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Up 2.3%

MREO opened at $0.31 on Wednesday. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.05. The company has a 50-day simple moving average of $0.30 and a 200 day simple moving average of $0.67. The stock has a market capitalization of $49.77 million, a price-to-earnings ratio of -6.24 and a beta of 0.33.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Sell-side analysts anticipate that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Marex Group plc acquired a new position in shares of Mereo BioPharma Group in the second quarter valued at approximately $27,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Mereo BioPharma Group in the third quarter valued at approximately $32,000. Virtu Financial LLC acquired a new position in shares of Mereo BioPharma Group in the third quarter valued at approximately $33,000. Squarepoint Ops LLC increased its stake in shares of Mereo BioPharma Group by 45.4% in the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after buying an additional 9,387 shares during the period. Finally, Forefront Analytics LLC increased its stake in shares of Mereo BioPharma Group by 73.4% in the third quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock valued at $68,000 after buying an additional 14,042 shares during the period. Institutional investors and hedge funds 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.