Mereo BioPharma Group (NASDAQ:MREO) Downgraded by Wall Street Zen to "Sell"

Wall Street Zen lowered shares of Mereo BioPharma Group (NASDAQ:MREO - Free Report) from a hold rating to a sell rating in a report released on Friday.

Several other research firms have also recently weighed in on MREO. Needham & Company LLC set a $5.00 price objective on shares of Mereo BioPharma Group and gave the company a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. started coverage on shares of Mereo BioPharma Group in a research report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.20.

Mereo BioPharma Group Stock Up 2.9%

MREO traded up $0.05 on Friday, hitting $1.76. The company's stock had a trading volume of 2,462,591 shares, compared to its average volume of 1,364,730. The company's 50 day simple moving average is $2.46 and its 200-day simple moving average is $2.58. The firm has a market cap of $279.84 million, a P/E ratio of -25.14 and a beta of 0.46. Mereo BioPharma Group has a 12 month low of $1.57 and a 12 month high of $5.02.

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

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jump Financial LLC bought a new position in shares of Mereo BioPharma Group in the fourth quarter worth approximately $39,000. Sheets Smith Investment Management purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at $59,000. GAMMA Investing LLC increased its position in Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock valued at $42,000 after acquiring an additional 9,854 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at $67,000. Finally, Graham Capital Management L.P. increased its position in Mereo BioPharma Group by 74.7% during the fourth quarter. Graham Capital Management L.P. now owns 22,189 shares of the company's stock valued at $78,000 after acquiring an additional 9,490 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company's stock.

About Mereo BioPharma Group

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.