Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Given Consensus Rating of “Hold” by Brokerages

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $1.6667.

Several research firms have issued reports on MREO. JPMorgan Chase & Co. restated an “underweight” rating on shares of Mereo BioPharma Group in a report on Wednesday, August 19th. Needham & Company LLC reissued a “buy” rating on shares of Mereo BioPharma Group in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd.

Mereo BioPharma Group Stock Down 4.3%

MREO stock opened at $0.29 on Thursday. The stock has a market capitalization of $46.33 million, a price-to-earnings ratio of -7.25 and a beta of 0.32. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $2.37. The stock’s fifty day simple moving average is $0.29 and its 200-day simple moving average is $0.31.

Mereo BioPharma Group (NASDAQ:MREO) last posted its earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). As a group, analysts anticipate that Mereo BioPharma Group will post -0.04 earnings per share for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

Several hedge funds have recently bought and sold shares of MREO. Forefront Analytics LLC raised its position in shares of Mereo BioPharma Group by 302.2% during the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after buying an additional 96,010 shares in the last quarter. Monaco Asset Management SAM boosted its holdings in shares of Mereo BioPharma Group by 67.6% in the fourth quarter. Monaco Asset Management SAM now owns 1,585,214 shares of the company’s stock valued at $661,000 after acquiring an additional 639,299 shares in the last quarter. EcoR1 Capital LLC increased its stake in shares of Mereo BioPharma Group by 70.2% during the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock valued at $4,412,000 after acquiring an additional 5,512,389 shares during the period. Defilade Capital Management L.P. acquired a new position in shares of Mereo BioPharma Group during the first quarter valued at approximately $2,494,000. Finally, Bank of America Corp DE raised its holdings in Mereo BioPharma Group by 32,048.5% during the first quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after purchasing an additional 8,169,795 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

About Mereo BioPharma Group

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing medicines for rare diseases and other serious conditions with limited treatment options. The company’s activities include the discovery, development and potential commercialization of targeted therapies, often through collaborations and licensing arrangements.

Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation.