Mereo BioPharma Group (NASDAQ:MREO) Trading Down 1.5% – What’s Next?

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) shares fell 1.5% during trading on Friday . The company traded as low as $0.2982 and last traded at $0.3132. 3,467,082 shares were traded during mid-day trading, a decline of 49% from the average session volume of 6,750,682 shares. The stock had previously closed at $0.3180.

Analyst Ratings Changes

A number of brokerages recently commented on MREO. Lifesci Capital raised Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Zacks Research downgraded Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. BTIG Research reissued a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Three investment 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 data from MarketBeat.com, Mereo BioPharma Group currently has an average rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Performance

The company’s fifty day moving average price is $0.30 and its 200 day moving average price is $0.72. The firm has a market capitalization of $49.99 million, a price-to-earnings ratio of -6.26 and a beta of 0.33.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). As a group, sell-side analysts expect that Mereo BioPharma Group plc – Sponsored ADR will post -0.02 earnings per share for the current year.

Institutional Trading of Mereo BioPharma Group

A number of institutional investors and hedge funds have recently made changes to their positions in MREO. 683 Capital Management LLC raised its position in shares of Mereo BioPharma Group by 208.2% during the 4th 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. Bank of America Corp DE raised its stake in Mereo BioPharma Group by 32,048.5% during the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock valued at $2,704,000 after acquiring an additional 8,169,795 shares in the last quarter. EcoR1 Capital LLC bought a new stake in Mereo BioPharma Group during the 4th quarter valued at $3,274,000. Schonfeld Strategic Advisors LLC raised its stake in 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 valued at $2,538,000 after acquiring an additional 4,357,657 shares in the last quarter. Finally, Aberdeen Group plc raised its stake in 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 acquiring an additional 2,509,827 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.