Mereo BioPharma Group (NASDAQ:MREO) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

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

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

Mereo BioPharma Group Stock Performance

MREO stock opened at $2.41 on Thursday. Mereo BioPharma Group has a 1-year low of $2.22 and a 1-year high of $5.02. The business has a fifty day moving average price of $2.73 and a 200-day moving average price of $3.51.

Mereo BioPharma Group (NASDAQ:MREO) last released 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, equities analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently modified their holdings of MREO. State Street Corp bought a new stake in Mereo BioPharma Group during the third quarter valued at about $195,000. Acuta Capital Partners LLC lifted its position in shares of 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 buying an additional 583,700 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Mereo BioPharma Group by 56.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after buying an additional 4,464,984 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Mereo BioPharma Group by 15.8% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after acquiring an additional 696,408 shares during the period. Finally, PFG Investments LLC increased its holdings in Mereo BioPharma Group by 132.0% in the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock worth $138,000 after acquiring an additional 22,433 shares in the last quarter. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

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.