Mereo BioPharma Group (NASDAQ:MREO) Trading Down 8.3%

Mereo BioPharma Group plc (NASDAQ:MREO)’s stock price fell 8.3% during trading on Tuesday . The company traded as low as $3.54 and last traded at $3.85. 3,711,779 shares were traded during trading, an increase of 69% from the average session volume of 2,192,491 shares. The stock had previously closed at $4.20.

Separately, Zacks Investment Research raised shares of Mereo BioPharma Group from a “sell” rating to a “hold” rating in a report on Saturday, January 30th.

The firm has a market cap of $95.87 million, a price-to-earnings ratio of -1.55 and a beta of 1.69. The business’s 50-day moving average is $3.26 and its 200-day moving average is $2.82.

Several institutional investors have recently made changes to their positions in MREO. Northeast Financial Consultants Inc acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter worth about $44,000. WMS Partners LLC acquired a new stake in Mereo BioPharma Group in the 3rd quarter valued at about $28,000. Vivo Capital LLC increased its position in Mereo BioPharma Group by 699.6% in the 3rd quarter. Vivo Capital LLC now owns 6,220,938 shares of the company’s stock valued at $16,299,000 after acquiring an additional 5,442,938 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Mereo BioPharma Group in the 3rd quarter valued at about $350,000. Finally, J. Goldman & Co LP acquired a new stake in Mereo BioPharma Group in the 3rd quarter valued at about $1,162,000. Institutional investors and hedge funds own 62.14% of the company’s stock.

Mereo BioPharma Group Company Profile (NASDAQ:MREO)

Mereo BioPharma Group plc, a biopharmaceutical company, acquires, develops, and commercializes therapeutics for the treatment of oncology and rare diseases. Its lead product candidate, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumor.

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