Mereo BioPharma Group plc (NASDAQ:MREO) Given Average Rating of "Buy" by Brokerages

Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) has been given a consensus rating of "Buy" by the eight research firms that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.71.

A number of equities analysts have recently commented on MREO shares. Cantor Fitzgerald restated an "overweight" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Needham & Company LLC restated a "buy" rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. initiated 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 objective for the company.

Institutional Trading of Mereo BioPharma Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of Mereo BioPharma Group by 38.7% in the 4th quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company's stock worth $59,843,000 after purchasing an additional 4,776,697 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Mereo BioPharma Group during the 4th quarter worth approximately $3,377,000. Tema Etfs LLC acquired a new position in shares of Mereo BioPharma Group in the 4th quarter worth approximately $3,117,000. Woodline Partners LP bought a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $2,166,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at approximately $1,729,000. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $2.67 on Monday. The company has a 50-day simple moving average of $2.34 and a 200-day simple moving average of $3.10. The company has a market cap of $424.53 million, a PE ratio of -44.50 and a beta of 0.53. Mereo BioPharma Group has a 12 month low of $1.58 and a 12 month high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, analysts anticipate that Mereo BioPharma Group will post -0.03 EPS for the current year.

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.

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