Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight Sells 40,712 Shares

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 40,712 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $150,227.28. Following the completion of the transaction, the chief executive officer now owns 801,791 shares of the company’s stock, valued at $2,958,608.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mereo BioPharma Group Trading Up 3.4 %

Shares of Mereo BioPharma Group stock opened at $3.60 on Friday. Mereo BioPharma Group plc has a 12-month low of $1.07 and a 12-month high of $4.50. The business’s 50 day moving average is $3.33 and its 200-day moving average is $3.19.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Mereo BioPharma Group

Large investors have recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new stake in Mereo BioPharma Group in the 1st quarter valued at $28,000. SG Americas Securities LLC bought a new stake in Mereo BioPharma Group in the 1st quarter valued at $54,000. BNP Paribas Financial Markets raised its stake in 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 acquiring an additional 17,432 shares during the period. Golden State Equity Partners raised its stake in Mereo BioPharma Group by 41.0% in the 4th quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock valued at $47,000 after acquiring an additional 5,900 shares during the period. Finally, Index Fund Advisors Inc. bought a new stake in Mereo BioPharma Group in the 1st quarter valued at $99,000. Institutional investors own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. SVB Leerink boosted their price objective on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Wednesday, June 12th. Robert W. Baird began coverage on Mereo BioPharma Group in a research note on Thursday, June 13th. They issued an “outperform” rating and a $8.00 target price on the stock. Baird R W upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, Needham & Company LLC boosted their target price on Mereo BioPharma Group from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. 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. Based on data from MarketBeat.com, 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.