Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Short Interest Update

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 11,262,015 shares, a decrease of 18.2% from the February 26th total of 13,764,845 shares. Based on an average daily volume of 1,433,891 shares, the short-interest ratio is currently 7.9 days. Currently, 7.5% of the company’s shares are sold short.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MREO. BTIG Research reissued a “buy” rating and set a $1.00 price target on shares of Mereo BioPharma Group in a research report on Friday, January 16th. Wall Street Zen downgraded Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mereo BioPharma Group in a report on Monday, December 29th. Needham & Company LLC decreased their target price on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Finally, Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a report on Thursday, March 19th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Trading Down 4.3%

Shares of MREO stock traded down $0.01 on Monday, hitting $0.32. 948,190 shares of the stock were exchanged, compared to its average volume of 9,027,374. The firm has a market capitalization of $50.13 million, a P/E ratio of -5.27 and a beta of 0.34. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $3.05. The business has a 50-day moving average of $0.41 and a 200 day moving average of $1.26.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Friday, March 20th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). As a group, research analysts forecast that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

Institutional investors have recently made changes to their positions in the business. 683 Capital Management LLC boosted its holdings in Mereo BioPharma Group by 208.2% during the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after purchasing an additional 10,150,000 shares during the last quarter. EcoR1 Capital LLC acquired a new stake in Mereo BioPharma Group in the 4th quarter valued at $3,274,000. Schonfeld Strategic Advisors LLC increased its stake in Mereo BioPharma Group by 251.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after buying an additional 4,357,657 shares during the last quarter. Aberdeen Group plc lifted its position in Mereo BioPharma Group by 82.9% during the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock worth $11,410,000 after buying an additional 2,509,827 shares in 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 during the 3rd quarter worth about $3,928,000. Institutional investors own 62.83% of the company’s stock.

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.