Defilade Capital Management L.P. Makes New Investment in Mereo BioPharma Group plc - Sponsored ADR $MREO

Key Points

• Defilade Capital Management acquired 7.56 million Mereo BioPharma shares valued at approximately $2.49 million, representing about 4.74% of the company. Institutional investors and hedge funds collectively own 62.83% of MREO.
• MREO opened at $0.34, with a 52-week range of $0.20 to $2.37 and a market capitalization of approximately $54.7 million. The company reported a quarterly loss of $0.01 per share, missing the consensus estimate of $0.02 in earnings.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $3.25; ratings include three Buys, four Holds and one Sell.

Defilade Capital Management L.P. acquired a new position in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,558,756 shares of the company's stock, valued at approximately $2,494,000. Defilade Capital Management L.P. owned about 4.74% of Mereo BioPharma Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the business. EcoR1 Capital LLC increased its stake in shares of 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 purchasing an additional 5,512,389 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Mereo BioPharma Group by 208.2% during the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company's stock valued at $6,261,000 after purchasing an additional 10,150,000 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of Mereo BioPharma Group during the 4th quarter valued at $48,000. EntryPoint Capital LLC acquired a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at $167,000. Finally, Tejara Capital Ltd boosted its holdings in Mereo BioPharma Group by 13.3% in the fourth quarter. Tejara Capital Ltd now owns 2,159,681 shares of the company's stock worth $900,000 after purchasing an additional 252,837 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Stock Performance

NASDAQ MREO opened at $0.34 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 fifty day simple moving average of $0.32 and a 200 day simple moving average of $0.35. The company has a market cap of $54.70 million, a P/E ratio of -6.85 and a beta of 0.35.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Equities research analysts forecast that Mereo BioPharma Group plc - Sponsored ADR will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MREO shares. Zacks Research upgraded Mereo BioPharma Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, June 10th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Mereo BioPharma Group in a research note on Thursday, July 2nd. Finally, BTIG Research reissued a "buy" rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, May 12th. Three research 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.

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