Mereo BioPharma Group's (MREO) "Underweight" Rating Reiterated at JPMorgan Chase & Co.

Key Points

• JPMorgan reiterated its “underweight” rating on Mereo BioPharma Group, contrasting with buy ratings from Needham and BTIG. Overall, analysts rate the stock “Hold,” with an average price target of $3.25.
• MREO shares opened at $0.31, near their 50-day moving average, with a one-year range of $0.20 to $2.37 and a market capitalization of approximately $50 million.
• The company reported quarterly earnings of -$0.01 per share, in line with estimates, while institutional investors own 62.83% of its stock and several funds recently initiated or increased positions.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report)'s stock had its "underweight" rating reissued by JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday,Benzinga reports.

MREO has been the topic of a number of other research reports. Needham & Company LLC reiterated a "buy" rating on shares of Mereo BioPharma Group in a research note on Tuesday, August 11th. BTIG Research reissued a "buy" rating and set a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Zacks Research upgraded Mereo BioPharma Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $3.25.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO opened at $0.31 on Wednesday. The company's 50-day moving average price is $0.31 and its two-hundred day moving average price is $0.33. Mereo BioPharma Group has a one year low of $0.20 and a one year high of $2.37. The stock has a market capitalization of $49.96 million, a PE ratio of -7.83 and a beta of 0.36.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). On average, analysts anticipate that Mereo BioPharma Group will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Marex Group plc acquired a new position in shares of Mereo BioPharma Group during the second quarter worth $27,000. Virtu Financial LLC acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at $33,000. Squarepoint Ops LLC boosted its holdings in shares of Mereo BioPharma Group by 45.4% during the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company's stock valued at $62,000 after acquiring an additional 9,387 shares in the last quarter. Aquatic Capital Management LLC grew its position in Mereo BioPharma Group by 99.5% during the 3rd quarter. Aquatic Capital Management LLC now owns 53,712 shares of the company's stock worth $111,000 after acquiring an additional 26,782 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Mereo BioPharma Group during the 2nd quarter worth $188,000. Institutional investors own 62.83% of the company's stock.

About Mereo BioPharma Group

Mereo BioPharma Group plc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for rare diseases, oncology and severe respiratory conditions. The company pursues an asset‐centric model, in which it in-licenses or acquires clinical-stage small molecules and monoclonal antibodies with established safety profiles. By concentrating resources on a select number of programs, Mereo aims to accelerate proof-of-concept studies and maximize the potential value of each therapeutic candidate.

Mereo's pipeline includes investigational therapies for skeletal disorders, such as setrusumab (BPS-804) for osteogenesis imperfecta, and treatments for acute and chronic respiratory diseases.

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