Mereo BioPharma Group’s (MREO) Underweight Rating Reiterated at JPMorgan Chase & Co.

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “underweight” rating reissued by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday,Benzinga reports.

MREO has been the topic of a number of other reports. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Needham & Company LLC restated a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. BTIG Research restated a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Mereo BioPharma Group presently has an average rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Trading Up 1.7%

Shares of MREO opened at $0.31 on Wednesday. The company has a market capitalization of $49.96 million, a PE ratio of -7.83 and a beta of 0.36. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $2.37. The stock’s 50-day moving average price is $0.31 and its two-hundred day moving average price is $0.33.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Equities research analysts predict that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MREO. Defilade Capital Management L.P. bought a new position in Mereo BioPharma Group in the 1st quarter worth approximately $2,494,000. Bank of America Corp DE raised its holdings 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 during the period. EcoR1 Capital LLC lifted its position in shares of Mereo BioPharma Group by 70.2% during the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,512,389 shares in the last quarter. Forefront Analytics LLC lifted its position in shares of Mereo BioPharma Group by 302.2% during the first quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after acquiring an additional 96,010 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its position in shares of Mereo BioPharma Group by 199.5% during the fourth 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. 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.