Mereo BioPharma Group plc – Sponsored ADR $MREO Holdings Increased by EcoR1 Capital LLC

EcoR1 Capital LLC increased its stake in Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 70.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,368,855 shares of the company’s stock after acquiring an additional 5,512,389 shares during the period. Mereo BioPharma Group makes up approximately 0.2% of EcoR1 Capital LLC’s investment portfolio, making the stock its 23rd biggest position. EcoR1 Capital LLC owned approximately 8.38% of Mereo BioPharma Group worth $4,412,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 683 Capital Management LLC lifted its position in Mereo BioPharma Group by 208.2% in the fourth quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after purchasing an additional 10,150,000 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Mereo BioPharma Group by 251.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after buying an additional 4,357,657 shares during the period. Tejara Capital Ltd lifted its holdings in shares of Mereo BioPharma Group by 13.3% in the fourth quarter. Tejara Capital Ltd now owns 2,159,681 shares of the company’s stock valued at $900,000 after buying an additional 252,837 shares during the period. Goldman Sachs Group Inc. boosted its stake in Mereo BioPharma Group by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after buying an additional 6,068 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Mereo BioPharma Group during the third quarter valued at about $3,928,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Trading Up 5.0%

Shares of MREO opened at $0.30 on Tuesday. The business’s 50-day moving average price is $0.31 and its 200 day moving average price is $0.36. The stock has a market capitalization of $48.22 million, a P/E ratio of -6.04 and a beta of 0.35. Mereo BioPharma Group plc – Sponsored ADR has a 1-year low of $0.20 and a 1-year high of $2.37.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). On average, research analysts predict that Mereo BioPharma Group plc – Sponsored ADR will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MREO. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.25.

Mereo BioPharma Group 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.