Mereo BioPharma Group (NASDAQ:MREO) Stock Rating Lowered by Wall Street Zen

Mereo BioPharma Group (NASDAQ:MREO) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently issued reports on MREO. Robert W. Baird set a $1.00 target price on shares of Mereo BioPharma Group in a report on Monday. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Wednesday, October 8th. Lifesci Capital downgraded Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a report on Monday, December 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday. Four 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 stock presently has a consensus rating of “Hold” and an average target price of $4.40.

Mereo BioPharma Group Stock Up 22.5%

Shares of Mereo BioPharma Group stock opened at $0.51 on Friday. The stock has a market cap of $81.22 million, a P/E ratio of -8.51 and a beta of 0.42. Mereo BioPharma Group has a 12-month low of $0.20 and a 12-month high of $3.84. The business’s 50 day moving average is $1.81 and its 200-day moving average is $1.93.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MREO. Goldman Sachs Group Inc. boosted its position in shares of Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after acquiring an additional 6,068 shares during the period. Significant Wealth Partners LLC raised its stake in Mereo BioPharma Group by 61.7% in the 2nd quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock worth $60,000 after purchasing an additional 8,490 shares in the last quarter. Squarepoint Ops LLC raised its stake in Mereo BioPharma Group by 45.4% in the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after purchasing an additional 9,387 shares in the last quarter. Marex Group plc bought a new stake in Mereo BioPharma Group in the 2nd quarter valued at about $27,000. Finally, Avanza Fonder AB grew its position in shares of Mereo BioPharma Group by 36.0% during the 2nd quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock worth $104,000 after purchasing an additional 10,114 shares in the last quarter. 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.