Mereo BioPharma Group (NASDAQ:MREO) Receives Buy Rating from BTIG Research

BTIG Research reaffirmed their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a report released on Tuesday,Benzinga reports. They currently have a $1.00 price objective on the stock.

MREO has been the subject of several other reports. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Mereo BioPharma Group presently has a consensus rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Trading Up 12.2%

Mereo BioPharma Group stock opened at $0.31 on Tuesday. The company has a market capitalization of $48.76 million, a PE ratio of -6.11 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 has a 50-day moving average price of $0.31 and a two-hundred day moving average price of $0.34.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). As a group, analysts predict that Mereo BioPharma Group will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Marex Group plc bought a new stake in shares of Mereo BioPharma Group in the 2nd quarter valued at $27,000. Virtu Financial LLC bought a new position in Mereo BioPharma Group during the third quarter worth $33,000. Squarepoint Ops LLC raised its stake in Mereo BioPharma Group by 45.4% during the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after buying an additional 9,387 shares during the last quarter. Aquatic Capital Management LLC lifted its holdings in Mereo BioPharma Group by 99.5% in the third quarter. Aquatic Capital Management LLC now owns 53,712 shares of the company’s stock valued at $111,000 after buying an additional 26,782 shares during the period. Finally, XTX Topco Ltd acquired a new position in Mereo BioPharma Group in the second quarter valued at $188,000. 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.