Newtyn Management LLC Sells 4,079,056 Shares of Mereo BioPharma Group plc – Sponsored ADR $MREO

Newtyn Management LLC reduced its stake in shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) by 57.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000,000 shares of the company’s stock after selling 4,079,056 shares during the period. Newtyn Management LLC owned 1.88% of Mereo BioPharma Group worth $953,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Defilade Capital Management L.P. bought a new position in shares of Mereo BioPharma Group during the 1st quarter valued at approximately $2,494,000. Bank of America Corp DE raised its stake in Mereo BioPharma Group by 32,048.5% during the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after acquiring an additional 8,169,795 shares during the period. EcoR1 Capital LLC raised its stake in Mereo BioPharma Group by 70.2% during the 1st quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,512,389 shares during the period. Forefront Analytics LLC lifted its holdings in Mereo BioPharma Group by 302.2% during the first quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock valued at $42,000 after purchasing an additional 96,010 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted 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 valued at $51,000 after purchasing an additional 81,665 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Price Performance

Shares of MREO opened at $0.25 on Monday. Mereo BioPharma Group plc – Sponsored ADR has a 1 year low of $0.20 and a 1 year high of $2.37. The company has a 50 day simple moving average of $0.31 and a two-hundred day simple moving average of $0.32. The firm has a market cap of $40.32 million, a P/E ratio of -6.31 and a beta of 0.36.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). On average, sell-side analysts anticipate that Mereo BioPharma Group plc – Sponsored ADR will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MREO. BTIG Research reissued a “buy” rating and issued a $1.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, August 11th. Needham & Company LLC restated a “buy” rating on shares of Mereo BioPharma Group in a research note on Tuesday, August 11th. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Mereo BioPharma Group in a research note on Wednesday, August 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Mereo BioPharma Group in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $1.67.

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.