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

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 13,042,775 shares, an increase of 32.9% from the January 15th total of 9,814,341 shares. Approximately 8.7% of the shares of the stock are short sold. Based on an average daily volume of 8,676,296 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 8,676,296 shares, the days-to-cover ratio is presently 1.5 days. Approximately 8.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MREO shares. Wall Street Zen lowered shares of Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Robert W. Baird set a $1.00 price target on shares of Mereo BioPharma Group in a research report on Monday, December 29th. Needham & Company LLC cut their price objective on 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, Lifesci Capital cut Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mereo BioPharma Group presently has an average rating of “Hold” and a consensus target price of $4.00.

Mereo BioPharma Group Stock Down 4.3%

Shares of MREO traded down $0.02 on Friday, hitting $0.37. 1,871,244 shares of the stock traded hands, compared to its average volume of 6,087,885. Mereo BioPharma Group has a 1 year low of $0.20 and a 1 year high of $3.05. The stock’s 50 day moving average is $0.99 and its two-hundred day moving average is $1.54. The firm has a market capitalization of $59.18 million, a P/E ratio of -6.20 and a beta of 0.37.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MREO. Marex Group plc purchased a new position in Mereo BioPharma Group during the second quarter worth about $27,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter valued at about $32,000. Virtu Financial LLC purchased a new position in shares of Mereo BioPharma Group during the 3rd quarter worth about $33,000. Squarepoint Ops LLC boosted its position in shares of Mereo BioPharma Group by 45.4% in the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after acquiring an additional 9,387 shares during the last quarter. Finally, Forefront Analytics LLC grew its holdings in Mereo BioPharma Group by 73.4% in the third quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock valued at $68,000 after purchasing an additional 14,042 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.