Mereo BioPharma Group (NASDAQ:MREO) Posts Earnings Results, Misses Estimates By $0.04 EPS

Mereo BioPharma Group (NASDAQ:MREO) issued its quarterly earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04), FiscalAI reports.

Mereo BioPharma Group Stock Performance

MREO stock traded up $0.05 during trading on Tuesday, reaching $0.32. 118,501,971 shares of the company traded hands, compared to its average volume of 5,857,449. The business has a 50 day simple moving average of $0.31 and a 200 day simple moving average of $0.34. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $2.37. The company has a market capitalization of $51.40 million, a price-to-earnings ratio of -6.48 and a beta of 0.36.

Wall Street Analyst Weigh In

MREO has been the topic of several research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. Finally, Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.25.

Institutional Trading of Mereo BioPharma Group

Institutional investors have recently modified their holdings of the company. Marex Group plc bought a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $27,000. Virtu Financial LLC acquired a new position in shares of Mereo BioPharma Group during the third quarter worth $33,000. Graham Capital Management L.P. acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth $48,000. Virtus Investment Advisers LLC lifted its holdings in shares of 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 purchasing an additional 81,665 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Mereo BioPharma Group by 45.4% during the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after purchasing an additional 9,387 shares during the last quarter. 62.83% of the stock is currently owned by institutional investors.

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.