Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight Sells 28,611 Shares

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 28,611 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $127,891.17. Following the sale, the chief executive officer now directly owns 868,967 shares in the company, valued at $3,884,282.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Denise Scots-Knight also recently made the following trade(s):

• On Tuesday, June 25th, Denise Scots-Knight sold 40,712 shares of Mereo BioPharma Group stock. The stock was sold at an average price of $3.69, for a total transaction of $150,227.28.

Mereo BioPharma Group Price Performance

Shares of MREO stock opened at $4.50 on Tuesday. The business’s 50-day moving average price is $4.21 and its 200-day moving average price is $3.61. Mereo BioPharma Group plc has a 12 month low of $3.64 and a 12 month high of $5.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MREO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Monday. Leerink Partners raised their price objective on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $7.50.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds have recently added to or reduced their stakes in the business. NEOS Investment Management LLC grew its stake in shares of Mereo BioPharma Group by 751.5% in the fourth quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock worth $813,000 after purchasing an additional 310,577 shares during the last quarter. Rubric Capital Management LP grew its position in shares of Mereo BioPharma Group by 16.7% in the 4th quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock valued at $31,307,000 after buying an additional 1,936,877 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Mereo BioPharma Group by 581,066.7% in the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after buying an additional 17,432 shares during the period. SG Americas Securities LLC bought a new position in shares of Mereo BioPharma Group during the first quarter worth about $54,000. Finally, Advisors Preferred LLC acquired a new position in shares of Mereo BioPharma Group in the first quarter worth approximately $28,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.