Mereo BioPharma Group plc (NASDAQ:MREO) Insider Sells $23,297.64 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider John A. Lewicki sold 5,212 shares of the business’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 transaction of $23,297.64. Following the completion of the transaction, the insider now directly owns 89,567 shares of the company’s stock, valued at approximately $400,364.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $4.22 on Thursday. Mereo BioPharma Group plc has a fifty-two week low of $3.64 and a fifty-two week high of $5.02. The business has a 50 day moving average price of $4.22 and a 200-day moving average price of $3.61.

Analyst Ratings Changes

Several research analysts recently issued reports on MREO shares. Leerink Partners upped 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. Robert W. Baird initiated coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They set an “outperform” rating and a $8.00 price objective on the stock. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Monday. Finally, Needham & Company LLC reaffirmed 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $7.50.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of large investors have recently added to or reduced their stakes in MREO. NEOS Investment Management LLC boosted its holdings in shares of Mereo BioPharma Group by 751.5% during 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 period. Price T Rowe Associates Inc. MD bought a new position in Mereo BioPharma Group during the 1st quarter valued at approximately $3,274,000. Janus Henderson Group PLC purchased a new stake in Mereo BioPharma Group in the 1st quarter worth approximately $16,949,000. Rubric Capital Management LP lifted its holdings in 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 worth $31,307,000 after buying an additional 1,936,877 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Mereo BioPharma Group by 581,066.7% during 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. Institutional investors own 62.83% of the company’s stock.

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.