GSA Capital Partners LLP Invests $276,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

GSA Capital Partners LLP acquired a new position in Mereo BioPharma Group plc (NASDAQ:MREO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,069 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds also recently modified their holdings of MREO. Deerfield Management Company L.P. Series C bought a new stake in Mereo BioPharma Group during the second quarter worth approximately $24,158,000. Janus Henderson Group PLC acquired a new position in Mereo BioPharma Group in the 1st quarter valued at $16,949,000. Frazier Life Sciences Management L.P. bought a new position in Mereo BioPharma Group in the 2nd quarter worth $15,845,000. Rubric Capital Management LP lifted its position in Mereo BioPharma Group by 12.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after acquiring an additional 1,754,350 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new stake in Mereo BioPharma Group during the second quarter valued at about $4,512,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Up 1.1 %

Mereo BioPharma Group stock opened at $3.72 on Friday. The business has a 50 day moving average price of $4.15 and a two-hundred day moving average price of $3.96. Mereo BioPharma Group plc has a 12 month low of $3.17 and a 12 month high of $5.02.

Insider Activity

In other news, CFO Christine Ann Fox sold 9,128 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the sale, the chief financial officer now directly owns 108,443 shares in the company, valued at approximately $484,740.21. This represents a 7.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Denise Scots-Knight sold 28,611 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 868,967 shares of the company’s stock, valued at approximately $3,884,282.49. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,931 shares of company stock worth $236,602. Company insiders own 4.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MREO shares. Needham & Company LLC reissued a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.