Perceptive Advisors LLC Invests $4.51 Million in Mereo BioPharma Group plc (NASDAQ:MREO)

Perceptive Advisors LLC bought a new stake in Mereo BioPharma Group plc (NASDAQ:MREO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,253,250 shares of the company’s stock, valued at approximately $4,512,000. Perceptive Advisors LLC owned about 0.89% of Mereo BioPharma Group at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in shares of Mereo BioPharma Group by 70.9% during the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after acquiring an additional 2,887 shares during the last quarter. Advisors Preferred LLC acquired a new position in Mereo BioPharma Group during the first quarter worth approximately $28,000. SG Americas Securities LLC purchased a new position in Mereo BioPharma Group during the first quarter worth approximately $54,000. BNP Paribas Financial Markets boosted its holdings in shares of Mereo BioPharma Group by 581,066.7% in the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after purchasing an additional 17,432 shares during the last quarter. Finally, Index Fund Advisors Inc. purchased a new stake in shares of Mereo BioPharma Group during the 1st quarter valued at $99,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Performance

Shares of MREO stock opened at $4.14 on Monday. Mereo BioPharma Group plc has a twelve month low of $3.64 and a twelve month high of $5.02. The firm has a fifty day simple moving average of $4.24 and a 200-day simple moving average of $3.64.

Insider Activity

In other news, Director Deepika Pakianathan sold 105,244 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $4.43, for a total transaction of $466,230.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Deepika Pakianathan sold 105,244 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total transaction of $466,230.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Christine Ann Fox sold 9,128 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $40,802.16. Following the sale, the chief financial officer now owns 108,443 shares in the company, valued at approximately $484,740.21. The disclosure for this sale can be found here. Insiders sold 158,175 shares of company stock worth $702,832 over the last ninety days. Corporate insiders own 4.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Monday, September 16th. Leerink Partners increased their target price on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mereo BioPharma Group has an average rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Company Profile

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.