Lifesci Capital Reiterates Market Perform Rating for Mereo BioPharma Group (NASDAQ:MREO)

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “market perform” rating restated by equities research analysts at Lifesci Capital in a research report issued on Monday,Benzinga reports.

MREO has been the subject of several other research reports. BTIG Research decreased their target price on Mereo BioPharma Group from $6.00 to $1.00 and set a “buy” rating for the company in a research report on Monday. Cantor Fitzgerald restated an “overweight” rating on shares of Mereo BioPharma Group in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Mereo BioPharma Group in a report on Monday, December 22nd. Finally, Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.25.

Mereo BioPharma Group Trading Down 87.8%

MREO stock traded down $2.03 during mid-day trading on Monday, hitting $0.28. 176,790,703 shares of the company were exchanged, compared to its average volume of 2,319,935. The firm has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $2.00. The company has a market capitalization of $44.72 million, a PE ratio of -4.68 and a beta of 0.45. Mereo BioPharma Group has a twelve month low of $0.20 and a twelve month high of $3.84.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Monday, November 10th. The company reported ($0.01) earnings per share (EPS) for the quarter. As a group, sell-side analysts anticipate that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Mereo BioPharma Group

Several large investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. raised its stake in shares of Mereo BioPharma Group by 53.4% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company’s stock worth $17,595,000 after buying an additional 2,722,084 shares in the last quarter. Aberdeen Group plc boosted its stake in Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after buying an additional 2,509,827 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Mereo BioPharma Group during the third quarter worth about $3,928,000. Blue Owl Capital Holdings LP bought a new stake in Mereo BioPharma Group in the third quarter worth about $2,575,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Mereo BioPharma Group by 90.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,732,724 shares of the company’s stock valued at $3,569,000 after acquiring an additional 823,084 shares during the last quarter. Institutional investors and hedge funds 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.