Mereo BioPharma Group (NASDAQ:MREO) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Mereo BioPharma Group (NASDAQ:MREO) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other equities analysts also recently commented on the stock. Robert W. Baird set a $1.00 price objective on shares of Mereo BioPharma Group in a report on Monday, December 29th. BTIG Research decreased their price target on shares of Mereo BioPharma Group from $6.00 to $1.00 and set a “buy” rating for the company in a report on Monday, December 29th. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Jefferies Financial Group cut shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Mereo BioPharma Group in a report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.40.

Mereo BioPharma Group Stock Performance

NASDAQ:MREO opened at $0.48 on Friday. The company has a market capitalization of $76.48 million, a price-to-earnings ratio of -8.01 and a beta of 0.42. Mereo BioPharma Group has a one year low of $0.20 and a one year high of $3.84. The stock has a 50-day simple moving average of $1.78 and a 200 day simple moving average of $1.90.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Monday, November 10th. The company reported ($0.01) EPS for the quarter. On average, equities research analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of institutional investors have recently bought and sold shares of MREO. Goldman Sachs Group Inc. grew its position in Mereo BioPharma Group by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after purchasing an additional 6,068 shares in the last quarter. Significant Wealth Partners LLC grew its position in shares of Mereo BioPharma Group by 61.7% in the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock valued at $60,000 after purchasing an additional 8,490 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Mereo BioPharma Group by 45.4% in the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after buying an additional 9,387 shares during the last quarter. Marex Group plc bought a new position in Mereo BioPharma Group in the 2nd quarter worth approximately $27,000. Finally, Avanza Fonder AB lifted its holdings in shares of Mereo BioPharma Group by 36.0% during the second quarter. Avanza Fonder AB now owns 38,235 shares of the company’s stock worth $104,000 after buying an additional 10,114 shares during the last quarter. 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.