EcoR1 Capital LLC Takes $3.27 Million Position in Mereo BioPharma Group plc – Sponsored ADR $MREO

EcoR1 Capital LLC bought a new stake in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,856,466 shares of the company’s stock, valued at approximately $3,274,000. Mereo BioPharma Group makes up about 0.1% of EcoR1 Capital LLC’s portfolio, making the stock its 26th largest position. EcoR1 Capital LLC owned about 4.94% of Mereo BioPharma Group as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. 683 Capital Management LLC grew its stake in shares of 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 valued at $6,261,000 after acquiring an additional 10,150,000 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Mereo BioPharma Group by 251.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after acquiring an additional 4,357,657 shares in the last quarter. Aberdeen Group plc grew its stake in shares of Mereo BioPharma Group by 82.9% during the third quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after acquiring an additional 2,509,827 shares in the last quarter. Clearline Capital LP grew its stake in shares of Mereo BioPharma Group by 6.0% during the third quarter. Clearline Capital LP now owns 3,834,163 shares of the company’s stock valued at $7,898,000 after acquiring an additional 216,000 shares in the last quarter. Finally, Tejara Capital Ltd grew its stake in shares of Mereo BioPharma Group by 13.3% during the fourth quarter. Tejara Capital Ltd now owns 2,159,681 shares of the company’s stock valued at $900,000 after acquiring an additional 252,837 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Trading Up 6.2%

MREO opened at $0.31 on Thursday. The business’s 50 day moving average is $0.30 and its 200-day moving average is $0.63. The stock has a market cap of $49.48 million, a PE ratio of -6.20 and a beta of 0.33. Mereo BioPharma Group plc – Sponsored ADR has a twelve month low of $0.20 and a twelve month high of $3.05.

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

Wall Street Analyst Weigh In

MREO has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Lifesci Capital raised shares of Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Mereo BioPharma Group in a research report on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mereo BioPharma Group 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.