Investors Purchase High Volume of Call Options on Mereo BioPharma Group (NASDAQ:MREO)

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the target of unusually large options trading activity on Wednesday. Traders acquired 4,381 call options on the company. This is an increase of 61% compared to the average daily volume of 2,719 call options.

Mereo BioPharma Group Trading Up 12.5%

MREO stock opened at $0.42 on Friday. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $3.84. The firm has a market cap of $66.31 million, a PE ratio of -6.95 and a beta of 0.43. The business’s 50-day moving average price is $1.84 and its two-hundred day moving average price is $1.94.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.01) EPS for the quarter. On average, analysts forecast that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Mereo BioPharma Group

Several large investors have recently made changes to their positions in MREO. Marex Group plc acquired a new stake in shares of Mereo BioPharma Group during the second quarter worth $27,000. State of New Jersey Common Pension Fund D bought a new position in Mereo BioPharma Group during the 3rd quarter worth about $32,000. Virtu Financial LLC acquired a new stake in shares of Mereo BioPharma Group in the 3rd quarter valued at about $33,000. Significant Wealth Partners LLC lifted its holdings in shares of Mereo BioPharma Group by 61.7% in the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock valued at $60,000 after purchasing an additional 8,490 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Mereo BioPharma Group by 45.4% during the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after buying an additional 9,387 shares during the period. Institutional investors own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Wednesday, October 8th. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mereo BioPharma Group in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Mereo BioPharma Group in a research note on Monday, December 22nd. Finally, Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.40.

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.