Mereo BioPharma Group plc (NASDAQ:MREO) Short Interest Up 11.3% in August

Mereo BioPharma Group plc (NASDAQ:MREOGet Rating) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 7,020,000 shares, a growth of 11.3% from the August 15th total of 6,310,000 shares. Based on an average daily volume of 5,180,000 shares, the short-interest ratio is currently 1.4 days. Approximately 6.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MREO. Needham & Company LLC cut their price target on Mereo BioPharma Group from $10.00 to $5.00 and set a “buy” rating for the company in a report on Monday, June 6th. Cantor Fitzgerald started coverage on shares of Mereo BioPharma Group in a research report on Friday, August 12th. They set an “overweight” rating and a $4.00 target price on the stock.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $1.00 on Tuesday. The business’s 50-day simple moving average is $1.26 and its 200 day simple moving average is $1.05. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 0.16. Mereo BioPharma Group has a 12-month low of $0.30 and a 12-month high of $2.73.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC acquired a new position in Mereo BioPharma Group in the fourth quarter valued at approximately $25,000. Maven Securities LTD acquired a new position in shares of Mereo BioPharma Group in the 4th quarter valued at $505,000. Point72 Asset Management L.P. boosted its position in shares of Mereo BioPharma Group by 6.4% in the 4th quarter. Point72 Asset Management L.P. now owns 10,610,000 shares of the company’s stock worth $16,976,000 after purchasing an additional 635,000 shares during the last quarter. Bluefin Capital Management LLC acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter worth $60,000. Finally, Clearline Capital LP bought a new stake in Mereo BioPharma Group in the fourth quarter valued at about $1,098,000. 57.55% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Company Profile

(Get Rating)

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom and internationally. Its lead product candidate, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumor.

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