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

Shares of Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Get Free Report) have earned an average rating of "Buy" from the five ratings firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $7.20.

MREO has been the subject of several research reports. Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the company a "buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. initiated coverage on Mereo BioPharma Group in a research note on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price for the company. Finally, Wall Street Zen downgraded Mereo BioPharma Group from a "hold" rating to a "sell" rating in a report on Friday.

Mereo BioPharma Group Stock Performance

MREO opened at $1.77 on Friday. The business's fifty day moving average is $2.46 and its 200-day moving average is $2.59. The firm has a market cap of $281.43 million, a P/E ratio of -25.29 and a beta of 0.46. Mereo BioPharma Group has a 52-week low of $1.57 and a 52-week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MREO. Jump Financial LLC bought a new stake in Mereo BioPharma Group during the fourth quarter worth $39,000. GAMMA Investing LLC lifted 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 during the period. Sheets Smith Investment Management bought a new stake in Mereo BioPharma Group during the fourth quarter worth $59,000. Significant Wealth Partners LLC lifted 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 during the period. Finally, Virtus ETF Advisers LLC bought a new stake in Mereo BioPharma Group during the fourth quarter worth $67,000. Hedge funds and other 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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