Mereo BioPharma Group plc (NASDAQ:MREO) Stake Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in Mereo BioPharma Group plc (NASDAQ:MREO) by 87.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,621 shares of the company’s stock after selling 104,357 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Mereo BioPharma Group were worth $53,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers increased its holdings in shares of Mereo BioPharma Group by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after acquiring an additional 2,887 shares during the period. Advisors Preferred LLC acquired a new position in Mereo BioPharma Group during the 1st quarter valued at about $28,000. SG Americas Securities LLC bought a new position in Mereo BioPharma Group in the 1st quarter worth about $54,000. 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 purchasing an additional 17,432 shares during the period. Finally, Index Fund Advisors Inc. bought a new stake in shares of Mereo BioPharma Group during the first quarter valued at approximately $99,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MREO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and an average price target of $7.50.

Insider Buying and Selling at Mereo BioPharma Group

In other news, CEO Denise Scots-Knight sold 28,611 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $127,891.17. Following the completion of the sale, the chief executive officer now owns 868,967 shares in the company, valued at approximately $3,884,282.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Christine Ann Fox sold 9,128 shares of Mereo BioPharma Group 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 transaction, the chief financial officer now owns 108,443 shares of the company’s stock, valued at $484,740.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Denise Scots-Knight sold 28,611 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $127,891.17. Following the sale, the chief executive officer now directly owns 868,967 shares of the company’s stock, valued at approximately $3,884,282.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock worth $702,832 over the last three months. Corporate insiders own 4.13% of the company’s stock.

Mereo BioPharma Group Stock Down 1.9 %

MREO stock opened at $4.53 on Tuesday. Mereo BioPharma Group plc has a 1 year low of $3.64 and a 1 year high of $5.02. The company has a fifty day simple moving average of $4.37 and a 200 day simple moving average of $3.78.

Mereo BioPharma Group 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.