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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 8,267,481 shares, a decrease of 24.2% from the March 31st total of 10,907,448 shares. Based on an average daily volume of 1,709,361 shares, the days-to-cover ratio is currently 4.8 days. Approximately 5.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtus Investment Advisers LLC increased its holdings in Mereo BioPharma Group by 199.5% in the fourth 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. Sphera Funds Management LTD. acquired a new stake in Mereo BioPharma Group in the fourth quarter valued at $106,000. Quadrature Capital Ltd acquired a new stake in Mereo BioPharma Group in the fourth quarter valued at $111,000. EcoR1 Capital LLC acquired a new stake in Mereo BioPharma Group in the fourth quarter valued at $3,274,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Mereo BioPharma Group in the fourth quarter valued at $533,000. 62.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on MREO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. Jefferies Financial Group downgraded Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Wall Street Zen cut Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. Finally, BTIG Research reiterated a “buy” rating and issued a $1.00 price target on shares of Mereo BioPharma Group in a research note on Friday, January 16th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Performance

Shares of MREO stock traded down $0.01 during trading on Wednesday, hitting $0.27. The company had a trading volume of 1,187,639 shares, compared to its average volume of 7,120,784. The stock’s 50-day moving average price is $0.35 and its 200 day moving average price is $1.01. Mereo BioPharma Group has a one year low of $0.20 and a one year high of $3.05. The firm has a market capitalization of $43.42 million, a P/E ratio of -4.53 and a beta of 0.43.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Friday, March 20th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). On average, research analysts anticipate that Mereo BioPharma Group will post -0.01 earnings per share for the current fiscal 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.