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

Key Points

• Mereo BioPharma Group plc has received an average rating of "Buy" from analysts, with an average target price of $7.40 per share.
• The stock's recent performance shows a 52-week range between $1.47 and $4.72, currently trading at $2.05.
• Institutional investors own 62.83% of Mereo BioPharma Group's shares, with significant stake increases reported by companies like Ameriprise Financial Inc. and UBS Asset Management.

Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Get Free Report) has received an average recommendation of "Buy" from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.40.

Several analysts recently issued reports on MREO shares. Wall Street Zen upgraded Mereo BioPharma Group from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. JPMorgan Chase & Co. upped their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, Needham & Company LLC set a $5.00 price objective on Mereo BioPharma Group and gave the company a "buy" rating in a research note on Thursday, July 10th.

Mereo BioPharma Group Stock Performance

MREO opened at $2.05 on Thursday. Mereo BioPharma Group has a 52-week low of $1.47 and a 52-week high of $4.72. The firm has a market capitalization of $325.95 million, a PE ratio of -29.29 and a beta of 0.45. The business's 50-day simple moving average is $1.74 and its 200 day simple moving average is $2.15.

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

Institutional Trading of Mereo BioPharma Group

Several institutional investors and hedge funds have recently bought and sold shares of MREO. Ameriprise Financial Inc. raised its stake in Mereo BioPharma Group by 187.9% in the fourth quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company's stock valued at $331,000 after buying an additional 61,642 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Mereo BioPharma Group in the fourth quarter valued at approximately $3,377,000. GAMMA Investing LLC raised its stake in Mereo BioPharma Group by 109.5% in the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock valued at $42,000 after buying an additional 9,854 shares during the period. Avanza Fonder AB raised its stake in Mereo BioPharma Group by 43.5% in the first quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock valued at $67,000 after buying an additional 8,521 shares during the period. Finally, Monaco Asset Management SAM raised its stake in Mereo BioPharma Group by 9.2% in the first quarter. Monaco Asset Management SAM now owns 416,468 shares of the company's stock valued at $937,000 after buying an additional 35,000 shares during the period. 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.

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