EcoR1 Capital LLC Acquires New Stake in Mereo BioPharma Group plc – Sponsored ADR $MREO

EcoR1 Capital LLC acquired a new stake in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) during the fourth quarter, Holdings Channel reports. The firm acquired 7,856,466 shares of the company’s stock, valued at approximately $3,274,000. Mereo BioPharma Group comprises 0.1% of EcoR1 Capital LLC’s investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds have also made changes to their positions in MREO. Marex Group plc acquired a new position in shares of Mereo BioPharma Group during the second quarter valued at approximately $27,000. State of New Jersey Common Pension Fund D acquired a new position in Mereo BioPharma Group in the third quarter worth approximately $32,000. Virtu Financial LLC acquired a new position in Mereo BioPharma Group in the third quarter worth approximately $33,000. Graham Capital Management L.P. acquired a new position in Mereo BioPharma Group in the fourth quarter worth approximately $48,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in Mereo BioPharma Group in the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MREO. Lifesci Capital upgraded shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Finally, Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Mereo BioPharma Group currently has a consensus rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Up 6.2%

Shares of NASDAQ:MREO opened at $0.31 on Thursday. The firm has a fifty day moving average of $0.30 and a two-hundred day moving average of $0.63. The firm has a market capitalization of $49.48 million, a P/E ratio of -6.20 and a beta of 0.33. Mereo BioPharma Group plc – Sponsored ADR has a 12-month low of $0.20 and a 12-month high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Equities research analysts expect that Mereo BioPharma Group plc – Sponsored ADR will post -0.02 earnings per share for the current fiscal year.

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.