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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) saw a large decrease in short interest in the month of 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 presently 7.9 days. Currently, 7.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently made changes to their positions in MREO. Frazier Life Sciences Management L.P. grew its holdings in Mereo BioPharma Group by 20.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,440,112 shares of the company’s stock worth $25,583,000 after acquiring an additional 1,620,249 shares during the period. Aberdeen Group plc lifted its stake in shares of Mereo BioPharma Group by 82.9% in the 3rd quarter. Aberdeen Group plc now owns 5,538,699 shares of the company’s stock valued at $11,410,000 after purchasing an additional 2,509,827 shares during the period. Significant Wealth Partners LLC lifted its stake in shares of Mereo BioPharma Group by 114.8% in the 3rd quarter. Significant Wealth Partners LLC now owns 47,814 shares of the company’s stock valued at $98,000 after purchasing an additional 25,553 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of Mereo BioPharma Group by 83.3% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 77,000 shares of the company’s stock worth $159,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Forefront Wealth Partners LLC acquired a new stake in shares of Mereo BioPharma Group during the third quarter worth $68,000. Institutional investors own 62.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday, December 29th. Needham & Company LLC dropped their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a report on Monday, March 23rd. Robert W. Baird set a $1.00 target price on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $1.00 target price on shares of Mereo BioPharma Group in a report on Friday, January 16th. Three 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Price Performance

Shares of MREO stock traded down $0.01 during trading hours on Monday, reaching $0.32. 948,190 shares of the company were exchanged, compared to its average volume of 9,027,374. Mereo BioPharma Group has a fifty-two week low of $0.20 and a fifty-two week high of $3.05. The stock’s fifty day moving average is $0.41 and its two-hundred day moving average is $1.26. The company has a market cap of $50.13 million, a price-to-earnings ratio of -5.27 and a beta of 0.34.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings results on Friday, March 20th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). On average, research analysts anticipate that Mereo BioPharma Group will post -0.03 earnings per share for the current year.

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.