Traders Buy Large Volume of Mereo BioPharma Group Call Options (NASDAQ:MREO)

Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) was the recipient of unusually large options trading activity on Friday. Traders bought 8,030 call options on the stock. This is an increase of 1,169% compared to the average volume of 633 call options.

Mereo BioPharma Group Price Performance

MREO traded down $0.09 during midday trading on Monday, reaching $2.65. 1,670,383 shares of the company's stock traded hands, compared to its average volume of 1,134,303. The firm has a fifty day moving average of $2.29 and a two-hundred day moving average of $2.80. The stock has a market capitalization of $421.35 million, a price-to-earnings ratio of -37.86 and a beta of 0.47. Mereo BioPharma Group has a 52 week low of $1.58 and a 52 week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Sell-side analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in shares of Mereo BioPharma Group by 187.9% during the 4th quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company's stock valued at $331,000 after buying an additional 61,642 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $133,000. Walleye Capital LLC bought a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $454,000. Sheets Smith Investment Management bought a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $59,000. Finally, Tema Etfs LLC bought a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $3,117,000. Institutional investors own 62.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MREO shares. JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group in a research note on Thursday, March 27th. They set an "overweight" rating and a $7.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Mereo BioPharma Group currently has a consensus rating of "Buy" and a consensus target price of $7.71.

Mereo BioPharma Group Company Profile

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.