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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 11,262,015 shares, a drop of 18.2% from the February 26th total of 13,764,845 shares. Based on an average daily trading volume, of 1,433,891 shares, the short-interest ratio is currently 7.9 days. Currently, 7.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtus Investment Advisers LLC increased its position in Mereo BioPharma Group by 199.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after purchasing an additional 81,665 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth $106,000. Quadrature Capital Ltd bought a new position in shares of Mereo BioPharma Group in the 4th quarter valued at $111,000. EcoR1 Capital LLC bought a new position in shares of Mereo BioPharma Group in the 4th quarter valued at $3,274,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter valued at $533,000. 62.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MREO has been the subject of a number of research analyst reports. Robert W. Baird set a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, December 29th. Wall Street Zen lowered shares of Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Jefferies Financial Group cut shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 30th. Needham & Company LLC cut their price objective on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, BTIG Research restated a “buy” rating and set a $1.00 price objective 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Price Performance

NASDAQ:MREO traded up $0.01 during trading hours on Wednesday, reaching $0.34. 1,662,649 shares of the company were exchanged, compared to its average volume of 8,794,913. The business has a 50 day moving average of $0.40 and a 200 day moving average of $1.24. The company has a market capitalization of $53.95 million, a P/E ratio of -5.68 and a beta of 0.34. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $3.05.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Friday, March 20th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). As a group, equities research analysts anticipate that Mereo BioPharma Group will post -0.03 earnings per share for the current fiscal 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.