Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Sees Significant Drop in Short Interest

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 3,535,905 shares, a decrease of 39.9% from the June 30th total of 5,883,564 shares. Based on an average daily volume of 1,096,197 shares, the short-interest ratio is currently 3.2 days. Currently, 2.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its position in Mereo BioPharma Group by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock worth $4,783,000 after purchasing an additional 6,068 shares during the last quarter. Woodline Partners LP grew its stake in shares of Mereo BioPharma Group by 53.2% in the 1st quarter. Woodline Partners LP now owns 947,986 shares of the company’s stock valued at $2,133,000 after buying an additional 329,202 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Mereo BioPharma Group by 62.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,569,100 shares of the company’s stock valued at $3,530,000 after buying an additional 604,200 shares during the period. XTX Topco Ltd acquired a new stake in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $188,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at approximately $804,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Up 6.3%

MREO traded up $0.02 during trading on Friday, reaching $0.34. The company’s stock had a trading volume of 1,997,423 shares, compared to its average volume of 5,384,109. The firm has a fifty day simple moving average of $0.31 and a two-hundred day simple moving average of $0.35. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $2.37. The company has a market cap of $53.47 million, a price-to-earnings ratio of -6.68 and a beta of 0.35.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). As a group, equities analysts forecast that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on MREO. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. BTIG Research restated a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Finally, Zacks Research raised 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.25.

About Mereo BioPharma Group

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.