Mereo BioPharma Group (NASDAQ:MREO) Given “Neutral” Rating at JPMorgan Chase & Co.

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a report released on Monday,Benzinga reports.

MREO has been the topic of a number of other research reports. BTIG Research restated a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Thursday, January 22nd. Lifesci Capital upgraded shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Robert W. Baird set a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Trading Down 5.2%

NASDAQ:MREO opened at $0.34 on Monday. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.05. The stock has a 50 day moving average of $0.44 and a two-hundred day moving average of $1.31. The firm has a market cap of $54.42 million, a P/E ratio of -5.70 and a beta of 0.34.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Thursday, March 19th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). On average, research 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

A number of hedge funds have recently modified their holdings of the company. 683 Capital Management LLC raised its stake in Mereo BioPharma Group by 208.2% during the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after purchasing an additional 10,150,000 shares during the period. EcoR1 Capital LLC purchased a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $3,274,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Mereo BioPharma Group by 251.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock worth $2,538,000 after buying an additional 4,357,657 shares during the last quarter. Aberdeen Group plc raised its position in shares of Mereo BioPharma Group by 82.9% during the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after buying an additional 2,509,827 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at approximately $3,928,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.