Wall Street Zen downgraded shares of Mereo BioPharma Group (NASDAQ:MREO - Free Report) from a hold rating to a sell rating in a research report released on Friday morning.
Other equities analysts also recently issued reports about the company. Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the stock a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. assumed coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.20.
Check Out Our Latest Analysis on MREO
Mereo BioPharma Group Trading Up 2.0%
Shares of NASDAQ:MREO traded up $0.04 on Friday, hitting $1.75. The company had a trading volume of 623,713 shares, compared to its average volume of 1,355,612. Mereo BioPharma Group has a 52-week low of $1.57 and a 52-week high of $5.02. The business has a 50 day moving average of $2.46 and a 200 day moving average of $2.58. The company has a market cap of $277.46 million, a PE ratio of -25.07 and a beta of 0.46.
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 the consensus estimate of ($0.01) by ($0.01). As a group, equities analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current year.
Institutional Investors Weigh In On Mereo BioPharma Group
A number of large investors have recently modified their holdings of MREO. Ameriprise Financial Inc. grew its stake in 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 purchasing an additional 61,642 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Mereo BioPharma Group by 109.5% during the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after buying an additional 9,854 shares during the last quarter. XTX Topco Ltd bought a new position in Mereo BioPharma Group during the 4th quarter worth approximately $133,000. Walleye Capital LLC bought a new position in Mereo BioPharma Group during the 4th quarter worth approximately $454,000. Finally, Sheets Smith Investment Management bought a new position in Mereo BioPharma Group during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 62.83% of the company's stock.
About Mereo BioPharma Group
(
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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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