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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 3,535,905 shares, a decline of 39.9% from the June 30th total of 5,883,564 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average trading volume of 1,096,197 shares, the short-interest ratio is currently 3.2 days.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MREO. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research note 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 raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three equities 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 stock. Based on data from MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock traded up $0.01 during midday trading on Thursday, reaching $0.32. The stock had a trading volume of 294,426 shares, compared to its average volume of 5,404,174. The stock has a market capitalization of $50.76 million, a P/E ratio of -6.36 and a beta of 0.35. The firm’s fifty day simple moving average is $0.31 and its 200-day simple moving average is $0.36. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). On average, sell-side analysts anticipate that Mereo BioPharma Group will post -0.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MREO. Marex Group plc acquired a new stake in Mereo BioPharma Group in the 2nd quarter valued at $27,000. Virtu Financial LLC acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter worth about $33,000. Forefront Analytics LLC boosted its stake in shares of Mereo BioPharma Group by 302.2% during the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after buying an additional 96,010 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Mereo BioPharma Group in the 4th quarter valued at about $48,000. Finally, Virtus Investment Advisers LLC raised its holdings in Mereo BioPharma Group by 199.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock worth $51,000 after acquiring an additional 81,665 shares in the last quarter. Institutional investors own 62.83% of the company’s stock.

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.