Weiss Ratings Reiterates Sell (D-) Rating for Mereo BioPharma Group (NASDAQ:MREO)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Mereo BioPharma Group (NASDAQ:MREO), reflecting caution about the company's current performance.
• Mereo BioPharma's stock has a 12-month low of $1.47 and a high of $4.72, with recent shares trading at $1.96.
• The average analyst rating for Mereo BioPharma is now "Moderate Buy," with a consensus price target set at $7.40.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently commented on MREO. Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen raised Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $7.40.

Mereo BioPharma Group Stock Up 0.5%

Shares of NASDAQ MREO opened at $1.96 on Wednesday. Mereo BioPharma Group has a 12 month low of $1.47 and a 12 month high of $4.72. The company has a market cap of $311.64 million, a price-to-earnings ratio of -28.00 and a beta of 0.45. The business has a fifty day simple moving average of $1.77 and a 200-day simple moving average of $2.13.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $7.80 million. As a group, sell-side analysts expect that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Atle Fund Management AB increased its position in Mereo BioPharma Group by 96.1% in the 2nd quarter. Atle Fund Management AB now owns 764,901 shares of the company's stock worth $2,073,000 after purchasing an additional 374,901 shares during the last quarter. GAMMA Investing LLC increased its position in Mereo BioPharma Group by 109.5% in the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after purchasing an additional 9,854 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Mereo BioPharma Group by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company's stock worth $4,783,000 after purchasing an additional 6,068 shares during the last quarter. Frazier Life Sciences Management L.P. increased its holdings in shares of Mereo BioPharma Group by 53.4% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company's stock valued at $17,595,000 after acquiring an additional 2,722,084 shares during the last quarter. Finally, Avanza Fonder AB increased its holdings in shares of Mereo BioPharma Group by 43.5% during the 1st quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock valued at $67,000 after acquiring an additional 8,521 shares during the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

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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