Mereo BioPharma Group (NASDAQ:MREO) Posts Earnings Results

Mereo BioPharma Group (NASDAQ:MREO) issued its earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, Zacks reports.

Mereo BioPharma Group Trading Down 1.7%

Shares of NASDAQ:MREO traded down $0.03 during trading on Monday, hitting $1.77. 1,352,129 shares of the company’s stock were exchanged, compared to its average volume of 1,627,534. The firm has a market cap of $281.43 million, a P/E ratio of -25.29 and a beta of 0.41. The firm has a 50-day moving average price of $1.90 and a two-hundred day moving average price of $2.11. Mereo BioPharma Group has a 1-year low of $1.47 and a 1-year high of $4.40.

Institutional Trading of Mereo BioPharma Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in shares of Mereo BioPharma Group by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after purchasing an additional 6,068 shares during the last quarter. Marex Group plc bought a new position in Mereo BioPharma Group during the second quarter worth about $27,000. Nomura Holdings Inc. acquired a new position in shares of Mereo BioPharma Group during the 2nd quarter worth about $339,000. Paloma Partners Management Co bought a new stake in shares of Mereo BioPharma Group in the 2nd quarter valued at about $804,000. Finally, XTX Topco Ltd acquired a new stake in shares of Mereo BioPharma Group in the 2nd quarter valued at approximately $188,000. Institutional investors own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MREO shares. JPMorgan Chase & Co. lifted their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Zacks Research lowered Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.40.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.