Mereo BioPharma Group (NASDAQ:MREO) Upgraded at Wall Street Zen

Key Points

• Mereo BioPharma Group has received an upgrade from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• Needham & Company has set a target price of $5.00 for Mereo BioPharma shares, with an average target price of $7.20 across analysts.
• The company reported a 12-month high of $5.02 and a low of $1.47, currently trading at $1.74.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Separately, Needham & Company LLC set a $5.00 price target on Mereo BioPharma Group and gave the company a "buy" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $7.20.

Mereo BioPharma Group Stock Performance

MREO stock traded down $0.01 during midday trading on Friday, hitting $1.63. 986,136 shares of the company's stock were exchanged, compared to its average volume of 1,518,343. The stock's fifty day moving average price is $2.14 and its 200-day moving average price is $2.35. The company has a market cap of $259.17 million, a PE ratio of -23.29 and a beta of 0.47. Mereo BioPharma Group has a one year low of $1.47 and a one year high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $0.50 million during the quarter, compared to analysts' expectations of $7.80 million. On average, analysts expect that Mereo BioPharma Group will post -0.03 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Several institutional investors and hedge funds have recently bought and sold shares of MREO. Marex Group plc bought a new stake in Mereo BioPharma Group during the second quarter worth about $27,000. Jump Financial LLC bought a new stake in Mereo BioPharma Group during the fourth quarter worth about $39,000. GAMMA Investing LLC raised its holdings in Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after acquiring an additional 9,854 shares in the last quarter. Significant Wealth Partners LLC raised its holdings in Mereo BioPharma Group by 61.7% during the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company's stock worth $60,000 after acquiring an additional 8,490 shares in the last quarter. Finally, Virtus ETF Advisers LLC acquired a new position in Mereo BioPharma Group during the fourth quarter worth approximately $67,000. 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.