EcoR1 Capital LLC Has $4.41 Million Stock Position in Mereo BioPharma Group plc – Sponsored ADR $MREO

EcoR1 Capital LLC increased its holdings in Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 70.2% in the 1st quarter, Holdings Channel reports. The fund owned 13,368,855 shares of the company’s stock after purchasing an additional 5,512,389 shares during the period. Mereo BioPharma Group makes up about 0.2% of EcoR1 Capital LLC’s portfolio, making the stock its 23rd biggest position. EcoR1 Capital LLC owned approximately 0.08% of Mereo BioPharma Group worth $4,412,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Marex Group plc acquired a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at about $27,000. Virtu Financial LLC acquired a new position in Mereo BioPharma Group in the 3rd quarter valued at approximately $33,000. Squarepoint Ops LLC lifted its position in Mereo BioPharma Group by 45.4% in the 3rd quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after buying an additional 9,387 shares in the last quarter. Aquatic Capital Management LLC lifted its position in Mereo BioPharma Group by 99.5% in the 3rd quarter. Aquatic Capital Management LLC now owns 53,712 shares of the company’s stock worth $111,000 after buying an additional 26,782 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Mereo BioPharma Group in the 2nd quarter worth approximately $188,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Finally, Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mereo BioPharma Group currently has a consensus rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Up 5.0%

Shares of MREO opened at $0.30 on Tuesday. The company’s fifty day moving average is $0.31 and its 200-day moving average is $0.36. Mereo BioPharma Group plc – Sponsored ADR has a 12 month low of $0.20 and a 12 month high of $2.37. The firm has a market cap of $48.22 million, a price-to-earnings ratio of -6.04 and a beta of 0.35.

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