Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) saw unusually large options trading on Friday. Stock investors purchased 8,030 call options on the company. This represents an increase of approximately 1,169% compared to the average volume of 633 call options.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on MREO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Needham & Company LLC reiterated a "buy" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. started coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Mereo BioPharma Group has a consensus rating of "Buy" and a consensus target price of $7.71.
View Our Latest Analysis on Mereo BioPharma Group
Mereo BioPharma Group Price Performance
NASDAQ MREO traded up $0.28 during trading hours on Friday, reaching $2.74. 2,193,957 shares of the stock traded hands, compared to its average volume of 1,129,020. The stock has a 50 day simple moving average of $2.29 and a two-hundred day simple moving average of $2.81. Mereo BioPharma Group has a 1 year low of $1.58 and a 1 year high of $5.02. The company has a market cap of $435.66 million, a price-to-earnings ratio of -39.14 and a beta of 0.53.
Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). On average, sell-side analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.
Institutional Investors Weigh In On Mereo BioPharma Group
A number of large investors have recently added to or reduced their stakes in MREO. Newbridge Financial Services Group Inc. purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at about $37,000. HealthInvest Partners AB increased its holdings in shares of Mereo BioPharma Group by 95.0% in the fourth quarter. HealthInvest Partners AB now owns 390,000 shares of the company's stock worth $1,373,000 after buying an additional 190,000 shares during the period. Sheets Smith Investment Management purchased a new position in Mereo BioPharma Group during the 4th quarter valued at about $59,000. XTX Topco Ltd purchased a new position in Mereo BioPharma Group during the 4th quarter valued at about $133,000. Finally, Walleye Capital LLC purchased a new position in Mereo BioPharma Group during the 4th quarter valued at about $454,000. Hedge funds and other institutional investors own 62.83% of the company's stock.
Mereo BioPharma Group Company Profile
(
Get Free Report)
Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.
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