Mereo BioPharma Group (NASDAQ:MREO) Releases Quarterly Earnings Results

Mereo BioPharma Group (NASDAQ:MREO) issued its earnings results on Monday. The company reported ($0.01) EPS for the quarter, Zacks reports. The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $3.70 million.

Mereo BioPharma Group Trading Down 0.3%

Shares of MREO traded down $0.01 during mid-day trading on Wednesday, hitting $1.87. 100,165 shares of the company traded hands, compared to its average volume of 1,621,922. The stock has a market capitalization of $296.54 million, a price-to-earnings ratio of -31.02 and a beta of 0.41. The business has a 50-day moving average of $1.91 and a 200 day moving average of $2.10. Mereo BioPharma Group has a one year low of $1.47 and a one year high of $4.21.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MREO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded Mereo BioPharma Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. lifted their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Monday, August 25th. Finally, Zacks Research lowered shares of Mereo BioPharma Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.40.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Marex Group plc bought a new stake in shares of Mereo BioPharma Group during the second quarter worth approximately $27,000. XTX Topco Ltd acquired a new stake in Mereo BioPharma Group during the 2nd quarter worth $188,000. Nomura Holdings Inc. bought a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $339,000. Paloma Partners Management Co acquired a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at $804,000. Finally, Woodline Partners LP boosted its position in shares of Mereo BioPharma Group by 53.2% in the 1st quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock worth $2,133,000 after purchasing an additional 329,202 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.