Insider Selling: Mereo BioPharma Group plc (NASDAQ:MREO) CEO Sells 28,611 Shares of Stock

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 28,611 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 $3,884,282.49. The sale was disclosed in a document filed with the SEC, which is available through this link.

Denise Scots-Knight also recently made the following trade(s):

• On Tuesday, June 25th, Denise Scots-Knight sold 40,712 shares of Mereo BioPharma Group stock. The shares were sold at an average price of $3.69, for a total transaction of $150,227.28.

Mereo BioPharma Group Price Performance

Shares of Mereo BioPharma Group stock traded up $0.22 during mid-day trading on Monday, reaching $4.50. 805,063 shares of the stock traded hands, compared to its average volume of 902,555. 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 of $4.21 and a 200 day moving average of $3.61.

Institutional Trading of Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers lifted 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 last quarter. Advisors Preferred LLC purchased a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $28,000. SG Americas Securities LLC acquired a new position in Mereo BioPharma Group during the 1st quarter worth approximately $54,000. BNP Paribas Financial Markets increased its holdings in 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 buying an additional 17,432 shares during the last quarter. Finally, Index Fund Advisors Inc. purchased a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $99,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Analysts Set New Price Targets

MREO has been the subject of several research analyst reports. Leerink Partners lifted their target price on 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 upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $7.50.

About Mereo BioPharma Group

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.