Defilade Capital Management L.P. Makes New Investment in Mereo BioPharma Group plc – Sponsored ADR $MREO

Defilade Capital Management L.P. purchased a new position in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) in the first quarter, HoldingsChannel reports. The institutional investor purchased 7,558,756 shares of the company’s stock, valued at approximately $2,494,000.

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

Analysts Set New Price Targets

Several research firms have issued reports on MREO. BTIG Research restated a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Finally, Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.25.

Mereo BioPharma Group Stock Performance

MREO stock opened at $0.34 on Monday. Mereo BioPharma Group plc – Sponsored ADR has a 1-year low of $0.20 and a 1-year high of $2.37. The business’s 50 day moving average is $0.32 and its 200-day moving average is $0.35. The firm has a market cap of $54.70 million, a P/E ratio of -6.85 and a beta of 0.35.

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

Mereo BioPharma Group Company 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.