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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 13,042,775 shares, a growth of 32.9% from the January 15th total of 9,814,341 shares. Based on an average daily trading volume, of 8,676,296 shares, the days-to-cover ratio is presently 1.5 days. Currently, 8.7% of the shares of the company are short sold. Currently, 8.7% of the shares of the company are short sold. Based on an average daily trading volume, of 8,676,296 shares, the days-to-cover ratio is presently 1.5 days.

Mereo BioPharma Group Stock Up 11.8%

NASDAQ:MREO traded up $0.04 on Tuesday, reaching $0.42. 6,320,339 shares of the company’s stock traded hands, compared to its average volume of 15,936,461. The stock has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $1.53. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.05. The firm has a market cap of $66.15 million, a PE ratio of -6.93 and a beta of 0.37.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Graham Capital Management L.P. purchased a new stake in Mereo BioPharma Group during the 4th quarter valued at approximately $48,000. EntryPoint Capital LLC purchased a new position in shares of Mereo BioPharma Group in the fourth quarter worth $167,000. Monaco Asset Management SAM boosted its position in shares of Mereo BioPharma Group by 67.6% during the fourth quarter. Monaco Asset Management SAM now owns 1,585,214 shares of the company’s stock worth $661,000 after acquiring an additional 639,299 shares during the last quarter. Tejara Capital Ltd grew its stake in 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. Finally, Baader Bank Aktiengesellschaft bought a new stake in Mereo BioPharma Group in the 4th quarter valued at $54,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BTIG Research reiterated a “buy” rating and set a $1.00 price target on shares of Mereo BioPharma Group in a research note on Friday, January 16th. Lifesci Capital downgraded Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a research report on Monday, December 29th. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th. Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research report on Monday, December 29th. Finally, Needham & Company LLC lowered their price objective on Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.00.

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.