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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 5,347,606 shares, a decline of 34.5% from the May 31st total of 8,160,044 shares. Based on an average daily volume of 3,448,314 shares, the short-interest ratio is presently 1.6 days. Currently, 3.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Zacks Research upgraded shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. BTIG Research reiterated a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, May 12th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Mereo BioPharma Group in a research note on Monday, March 23rd. Finally, Lifesci Capital upgraded Mereo BioPharma Group to a “hold” rating in a research report on Thursday, March 19th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.25.

Mereo BioPharma Group Price Performance

Shares of MREO stock opened at $0.32 on Thursday. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $3.05. The company has a market cap of $51.56 million, a price-to-earnings ratio of -6.46 and a beta of 0.35. The stock has a 50 day simple moving average of $0.29 and a 200-day simple moving average of $0.51.

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

Institutional Trading of Mereo BioPharma Group

Several institutional investors have recently modified their holdings of the stock. Marex Group plc purchased a new stake in shares of Mereo BioPharma Group during the second quarter worth about $27,000. Virtu Financial LLC purchased a new position in Mereo BioPharma Group in the 3rd quarter valued at about $33,000. Forefront Analytics LLC lifted its stake in Mereo BioPharma Group by 302.2% in the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock valued at $42,000 after buying an additional 96,010 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in Mereo BioPharma Group in the 4th quarter worth about $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 worth $51,000 after buying an additional 81,665 shares during the last quarter. Institutional investors and hedge funds 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.