Zacks Research Downgrades Mereo BioPharma Group (NASDAQ:MREO) to Strong Sell

Mereo BioPharma Group (NASDAQ:MREO) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a report on Tuesday. Needham & Company LLC dropped their target price on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a report on Thursday, January 22nd. Finally, Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Stock Performance

Shares of Mereo BioPharma Group stock opened at $0.26 on Tuesday. The company has a market capitalization of $41.42 million, a P/E ratio of -5.19 and a beta of 0.24. The company has a fifty day moving average of $0.33 and a 200 day moving average of $0.90. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Analysts forecast that Mereo BioPharma Group will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MREO. 683 Capital Management LLC increased its stake in Mereo BioPharma Group by 208.2% during the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after acquiring an additional 10,150,000 shares during the last quarter. EcoR1 Capital LLC bought a new stake in Mereo BioPharma Group during the fourth quarter worth approximately $3,274,000. Schonfeld Strategic Advisors LLC increased its stake in Mereo BioPharma Group by 251.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock worth $2,538,000 after acquiring an additional 4,357,657 shares during the last quarter. Aberdeen Group plc increased 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 worth $11,410,000 after acquiring an additional 2,509,827 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Mereo BioPharma Group during the third quarter worth approximately $3,928,000. 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.