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 increase in short interest during the month of 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. Based on an average daily volume of 8,676,296 shares, the days-to-cover ratio is currently 1.5 days. Currently, 8.7% of the shares of the company are short sold. Currently, 8.7% of the shares of the company are short sold. Based on an average daily volume of 8,676,296 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors have recently made changes to their positions in MREO. Goldman Sachs Group Inc. lifted its stake in shares of Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after purchasing an additional 6,068 shares during the period. Squarepoint Ops LLC increased its holdings in Mereo BioPharma Group by 45.4% in the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock valued at $62,000 after buying an additional 9,387 shares in the last quarter. Marex Group plc acquired a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at approximately $27,000. Forefront Analytics LLC boosted its stake in shares of Mereo BioPharma Group by 73.4% during the 3rd quarter. Forefront Analytics LLC now owns 33,180 shares of the company’s stock worth $68,000 after acquiring an additional 14,042 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $32,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Price Performance

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

Analyst Ratings Changes

MREO has been the subject of a number of research reports. Needham & Company LLC reduced their target price on shares of Mereo BioPharma Group from $5.00 to $3.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Lifesci Capital downgraded Mereo BioPharma Group from an “outperform” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Thursday, January 22nd. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen downgraded Mereo BioPharma Group from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of “Hold” and an average target price of $4.00.

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.