Mereo BioPharma Group (NASDAQ:MREO) Now Covered by JPMorgan Chase & Co.

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

Several other equities analysts also recently weighed in on MREO. Lifesci Capital began coverage on shares of Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Wednesday. Finally, Jefferies Financial Group assumed 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. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Mereo BioPharma Group has an average rating of “Buy” and an average target price of $7.71.

Mereo BioPharma Group Stock Performance

Shares of Mereo BioPharma Group stock opened at $2.30 on Thursday. The stock has a market cap of $356.84 million, a P/E ratio of -38.33 and a beta of 1.03. The stock’s fifty day moving average is $2.72 and its 200 day moving average is $3.48. Mereo BioPharma Group has a one year low of $2.22 and a one year high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current year.

Institutional Trading of Mereo BioPharma Group

Several hedge funds have recently bought and sold shares of the stock. Acuta Capital Partners LLC increased its holdings in shares of Mereo BioPharma Group by 86.2% in the third quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock worth $5,181,000 after purchasing an additional 583,700 shares during the last quarter. Fred Alger Management LLC boosted its stake in 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 grew its holdings in 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. Polar Asset Management Partners Inc. increased its stake 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 purchased a new stake in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $195,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Company Profile

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.