Mereo BioPharma Group (NASDAQ:MREO) Given "Neutral" Rating at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. restated a "Neutral" rating on Mereo BioPharma, while MarketBeat shows a consensus analyst rating of "Hold" with a consensus target price of $3.25.
• The shares opened at about $0.34 (down 5.2%), trade in a 12-month range of $0.20–$3.05, carry a market cap near $54.4M and show negative earnings (P/E -5.7).
• Several hedge funds materially increased positions (notably 683 Capital, EcoR1 and Schonfeld) and institutional investors now own roughly 62.83% of the company.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at JPMorgan Chase & Co. in a report released on Monday,Benzinga reports.

MREO has been the topic of a number of other research reports. BTIG Research restated a "buy" rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a report on Friday, January 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Mereo BioPharma Group in a report on Thursday, January 22nd. Lifesci Capital upgraded shares of Mereo BioPharma Group to a "hold" rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Mereo BioPharma Group from a "buy" rating to a "hold" rating in a research note on Tuesday, December 30th. Finally, Robert W. Baird set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $3.25.

Mereo BioPharma Group Trading Down 5.2%

NASDAQ:MREO opened at $0.34 on Monday. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.05. The stock has a 50 day moving average of $0.44 and a two-hundred day moving average of $1.31. The firm has a market cap of $54.42 million, a P/E ratio of -5.70 and a beta of 0.34.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last released its earnings results on Thursday, March 19th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). On average, research analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of hedge funds have recently modified their holdings of the company. 683 Capital Management LLC raised its stake in Mereo BioPharma Group by 208.2% during the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company's stock worth $6,261,000 after purchasing an additional 10,150,000 shares during the period. EcoR1 Capital LLC purchased a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $3,274,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Mereo BioPharma Group by 251.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company's stock worth $2,538,000 after buying an additional 4,357,657 shares during the last quarter. Aberdeen Group plc raised its position in shares of Mereo BioPharma Group by 82.9% during the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company's stock valued at $11,410,000 after buying an additional 2,509,827 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at approximately $3,928,000. Hedge funds and other institutional investors own 62.83% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.