Newtyn Management LLC Sells 4,079,056 Shares of Mereo BioPharma Group plc – Sponsored ADR $MREO

Newtyn Management LLC lessened its position in Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 57.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,000,000 shares of the company’s stock after selling 4,079,056 shares during the period. Newtyn Management LLC’s holdings in Mereo BioPharma Group were worth $953,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marex Group plc bought a new stake in shares of Mereo BioPharma Group during the second quarter worth $27,000. Virtu Financial LLC bought a new position in shares of Mereo BioPharma Group during the third quarter valued at approximately $33,000. Forefront Analytics LLC increased its holdings in shares of Mereo BioPharma Group by 302.2% in the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock valued at $42,000 after acquiring an additional 96,010 shares during the period. Graham Capital Management L.P. purchased a new position in Mereo BioPharma Group in the fourth quarter valued at about $48,000. Finally, Virtus Investment Advisers LLC raised its stake in shares of Mereo BioPharma Group by 199.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after acquiring an additional 81,665 shares in the last quarter. 62.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on MREO shares. Zacks Research upgraded Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Needham & Company LLC reissued a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Mereo BioPharma Group in a research note on Wednesday, August 19th. BTIG Research restated a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $1.67.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO opened at $0.25 on Monday. Mereo BioPharma Group plc – Sponsored ADR has a 52-week low of $0.20 and a 52-week high of $2.37. The stock has a market cap of $40.32 million, a price-to-earnings ratio of -6.31 and a beta of 0.36. The business has a 50-day moving average price of $0.31 and a 200-day moving average price of $0.32.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Wednesday, August 12th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). As a group, equities analysts anticipate that Mereo BioPharma Group plc – Sponsored ADR will post -0.04 EPS for the current fiscal year.

Mereo BioPharma Group 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.