Mereo BioPharma Group (NASDAQ:MREO) Cut to Strong Sell at Zacks Research

Mereo BioPharma Group (NASDAQ:MREO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. BTIG Research reiterated a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Finally, Needham & Company LLC cut their price objective on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $0.26 on Tuesday. Mereo BioPharma Group has a one year low of $0.20 and a one year high of $3.05. The stock has a fifty day moving average of $0.33 and a 200-day moving average of $0.90. The company has a market capitalization of $41.42 million, a PE ratio of -5.19 and a beta of 0.24.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). As a group, research analysts forecast that Mereo BioPharma Group will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Marex Group plc purchased a new position in Mereo BioPharma Group during the 2nd quarter valued at about $27,000. State of New Jersey Common Pension Fund D purchased a new position in Mereo BioPharma Group during the 3rd quarter valued at about $32,000. Virtu Financial LLC purchased a new position in Mereo BioPharma Group during the 3rd quarter valued at about $33,000. Forefront Analytics LLC grew its stake in Mereo BioPharma Group by 302.2% during the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock valued at $42,000 after acquiring an additional 96,010 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in Mereo BioPharma Group during the 4th quarter valued at about $48,000. Hedge funds and other 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.