Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives Consensus Recommendation of “Hold” from Brokerages

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.00.

MREO has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Mereo BioPharma Group in a report on Monday, December 29th. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Mereo BioPharma Group from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd.

Mereo BioPharma Group Trading Down 4.0%

NASDAQ:MREO opened at $0.37 on Friday. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.05. The company has a 50-day moving average price of $0.64 and a 200-day moving average price of $1.45. The stock has a market cap of $58.97 million, a price-to-earnings ratio of -6.18 and a beta of 0.37.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MREO. Marex Group plc purchased a new stake in Mereo BioPharma Group in the second quarter worth about $27,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Mereo BioPharma Group in the 3rd quarter worth approximately $32,000. Virtu Financial LLC bought a new stake in shares of Mereo BioPharma Group in the 3rd quarter worth approximately $33,000. Graham Capital Management L.P. purchased a new stake in shares of Mereo BioPharma Group in the 4th quarter worth approximately $48,000. Finally, Virtus Investment Advisers LLC increased its position in Mereo BioPharma Group by 199.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock valued at $51,000 after buying an additional 81,665 shares in the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Company Profile

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.