Mereo BioPharma Group (NASDAQ:MREO) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research report released on Thursday morning, MarketBeat reports. The firm issued an overweight rating and a $7.00 price objective on the stock.

Several other research analysts have also issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Jefferies Financial Group assumed coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Wednesday. Finally, Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Mereo BioPharma Group presently has a consensus rating of “Buy” and an average price target of $7.71.

Mereo BioPharma Group Stock Down 4.6 %

Shares of Mereo BioPharma Group stock opened at $2.30 on Thursday. The company has a market cap of $356.84 million, a PE ratio of -38.33 and a beta of 1.03. The business has a 50 day moving average of $2.72 and a 200 day moving average of $3.48. Mereo BioPharma Group has a 52 week low of $2.22 and a 52 week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings data on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, research analysts anticipate that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Mereo BioPharma Group

Several large investors have recently modified their holdings of the stock. Acuta Capital Partners LLC increased its stake in Mereo BioPharma Group by 86.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock valued at $5,181,000 after purchasing an additional 583,700 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Mereo BioPharma Group by 108.1% during the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after buying an additional 53,278 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Mereo BioPharma Group by 56.7% during the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in Mereo BioPharma Group by 36.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock worth $815,000 after acquiring an additional 52,500 shares during the last quarter. Finally, State Street Corp bought a new position in Mereo BioPharma Group in the 3rd quarter valued at approximately $195,000. Hedge funds and other 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.