Mereo BioPharma Group (NASDAQ:MREO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Mereo BioPharma Group (NASDAQ:MREO) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday,Zacks.com reports.

MREO has been the topic of several other reports. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. Lifesci Capital raised Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th. Needham & Company LLC reduced their price objective on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Stock Up 5.5%

NASDAQ:MREO opened at $0.26 on Tuesday. The stock’s 50-day simple moving average is $0.33 and its 200 day simple moving average is $0.90. The firm has a market capitalization of $41.42 million, a PE ratio of -5.19 and a beta of 0.24. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last released 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). On average, analysts anticipate that Mereo BioPharma Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after purchasing an additional 6,068 shares during the last quarter. Squarepoint Ops LLC raised its position in 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 purchasing an additional 9,387 shares during the last quarter. Marex Group plc bought a new position in Mereo BioPharma Group in the second quarter valued at about $27,000. Forefront Analytics LLC raised its position in 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 purchasing an additional 14,042 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Mereo BioPharma Group during the third quarter worth about $32,000. 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.