Mereo BioPharma Group (NASDAQ:MREO – Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01), Zacks reports.
Mereo BioPharma Group Price Performance
Mereo BioPharma Group stock traded down $0.01 during trading hours on Thursday, hitting $0.29. The company had a trading volume of 982,835 shares, compared to its average volume of 6,232,504. The firm’s fifty day moving average is $0.31 and its 200-day moving average is $0.34. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $2.37. The firm has a market capitalization of $46.61 million, a P/E ratio of -7.30 and a beta of 0.36.
Analysts Set New Price Targets
A number of research firms have weighed in on MREO. BTIG Research restated a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a report on Tuesday. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.25.
Institutional Trading of Mereo BioPharma Group
A number of hedge funds have recently made changes to their positions in the business. Marex Group plc bought a new stake in shares of Mereo BioPharma Group during the second quarter worth $27,000. Virtu Financial LLC purchased a new position in Mereo BioPharma Group during the third quarter valued at $33,000. Graham Capital Management L.P. bought a new stake in Mereo BioPharma Group during the fourth quarter valued at about $48,000. Virtus Investment Advisers LLC grew its stake in Mereo BioPharma Group by 199.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after acquiring an additional 81,665 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Mereo BioPharma Group by 45.4% in the third 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. 62.83% of the stock is owned by institutional investors and hedge funds.
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.
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