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

Mereo BioPharma Group (NASDAQ:MREO) announced its earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, FiscalAI reports.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO traded up $0.01 on Thursday, hitting $0.36. The company’s stock had a trading volume of 1,809,231 shares, compared to its average volume of 1,702,662. The company has a market capitalization of $57.40 million, a price-to-earnings ratio of -6.01 and a beta of 0.34. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.05. The stock’s 50-day moving average is $0.45 and its two-hundred day moving average is $1.32.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 683 Capital Management LLC boosted its stake in shares of Mereo BioPharma Group by 208.2% during the 4th 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 in the last quarter. EcoR1 Capital LLC acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter worth $3,274,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of 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 valued at $2,538,000 after purchasing an additional 4,357,657 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after purchasing an additional 2,509,827 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Mereo BioPharma Group in the 3rd quarter valued at $3,928,000. Institutional investors own 62.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Jefferies Financial Group cut Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a report on Monday, December 29th. Needham & Company LLC reduced their price objective on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mereo BioPharma Group in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.25.

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.