Mereo BioPharma Group (NASDAQ:MREO) Trading Down 1.5% – What’s Next?

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) shares dropped 1.5% during mid-day trading on Friday . The company traded as low as $0.2982 and last traded at $0.3132. Approximately 3,467,082 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 6,750,682 shares. The stock had previously closed at $0.3180.

Analysts Set New Price Targets

MREO has been the subject of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Lifesci Capital upgraded shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. Finally, Zacks Research lowered shares of Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Performance

The stock has a 50 day moving average price of $0.30 and a 200 day moving average price of $0.72. The company has a market cap of $49.99 million, a P/E ratio of -6.26 and a beta of 0.33.

Mereo BioPharma Group (NASDAQ:MREO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). As a group, equities research analysts predict that Mereo BioPharma Group plc – Sponsored ADR will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aberdeen Group plc boosted its holdings in shares of Mereo BioPharma Group by 82.9% in the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock worth $11,410,000 after buying an additional 2,509,827 shares during the period. Luminus Management LLC acquired a new position in shares of Mereo BioPharma Group in the fourth quarter worth about $165,000. ADAR1 Capital Management LLC acquired a new stake in shares of Mereo BioPharma Group in the fourth quarter worth $63,000. Squarepoint Ops LLC boosted its position 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 worth $62,000 after buying an additional 9,387 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Mereo BioPharma Group in the third quarter worth $33,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.