Mereo BioPharma Group (NASDAQ:MREO) Shares Down 1.5% – Should You Sell?

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

Wall Street Analyst Weigh In

Several research firms have recently commented on MREO. BTIG Research restated a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Finally, Zacks Research downgraded shares of Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Three equities research 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Price Performance

The business’s fifty day moving average price is $0.30 and its two-hundred day moving average price is $0.72. The stock has a market capitalization of $49.99 million, a PE ratio of -6.26 and a beta of 0.33.

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

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marex Group plc acquired a new stake in Mereo BioPharma Group during the 2nd quarter valued at approximately $27,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Mereo BioPharma Group in the third quarter worth $32,000. Virtu Financial LLC purchased a new position in shares of Mereo BioPharma Group during the third quarter worth $33,000. Forefront Analytics LLC raised its holdings 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 purchasing an additional 96,010 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in Mereo BioPharma Group during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.