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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 8,267,481 shares, a decline of 24.2% from the March 31st total of 10,907,448 shares. Based on an average daily trading volume, of 1,709,361 shares, the short-interest ratio is presently 4.8 days. Approximately 5.5% of the company’s stock are short sold.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of institutional investors have recently modified their holdings of the stock. 683 Capital Management LLC raised its stake in shares of Mereo BioPharma Group by 208.2% during the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock valued at $6,261,000 after buying an additional 10,150,000 shares during the last quarter. EcoR1 Capital LLC purchased a new position in shares of Mereo BioPharma Group during the 4th quarter valued at about $3,274,000. Schonfeld Strategic Advisors LLC raised its stake in shares of Mereo BioPharma Group by 251.5% during 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 raised its stake in shares of Mereo BioPharma Group by 82.9% during the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after buying an additional 2,509,827 shares during the last quarter. Finally, Clearline Capital LP raised its stake in shares of Mereo BioPharma Group by 6.0% during the 3rd quarter. Clearline Capital LP now owns 3,834,163 shares of the company’s stock valued at $7,898,000 after buying an additional 216,000 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Wall Street Analyst Weigh In

MREO has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Friday, January 16th. Wall Street Zen downgraded shares of Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Finally, Lifesci Capital upgraded shares of Mereo BioPharma Group to a “hold” rating in a research note on Thursday, March 19th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Trading Down 3.1%

MREO traded down $0.01 during midday trading on Friday, hitting $0.26. 1,692,491 shares of the company were exchanged, compared to its average volume of 1,504,025. The company’s 50 day simple moving average is $0.35 and its 200 day simple moving average is $1.00. The firm has a market capitalization of $41.50 million, a price-to-earnings ratio of -4.33 and a beta of 0.24. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Friday, March 20th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). On average, equities analysts anticipate that Mereo BioPharma Group will post -0.01 EPS for the current 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.