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

Shares of Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) have received an average rating of "Buy" from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $7.71.

Several research analysts have commented on MREO shares. JPMorgan Chase & Co. started coverage on Mereo BioPharma Group in a report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th.

Hedge Funds Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in Mereo BioPharma Group during the fourth quarter valued at $37,000. Jump Financial LLC bought a new position in Mereo BioPharma Group during the fourth quarter valued at $39,000. GAMMA Investing LLC grew 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 valued at $42,000 after purchasing an additional 9,854 shares during the period. Sheets Smith Investment Management bought a new position in Mereo BioPharma Group during the fourth quarter valued at $59,000. Finally, Virtus ETF Advisers LLC bought a new position in Mereo BioPharma Group during the fourth quarter valued at $67,000. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Stock Down 3.2%

Shares of MREO traded down $0.07 during midday trading on Friday, hitting $2.14. The company's stock had a trading volume of 623,357 shares, compared to its average volume of 1,103,114. Mereo BioPharma Group has a one year low of $1.58 and a one year high of $5.02. The company's fifty day simple moving average is $2.26 and its two-hundred day simple moving average is $2.84. The stock has a market capitalization of $340.26 million, a price-to-earnings ratio of -30.57 and a beta of 0.53.

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 for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). On average, research analysts predict that Mereo BioPharma Group will post -0.03 earnings per share 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.