Clearline Capital LP Sells 82,384 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Clearline Capital LP reduced its holdings in Mereo BioPharma Group plc (NASDAQ:MREO) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,244,334 shares of the company’s stock after selling 82,384 shares during the quarter. Clearline Capital LP’s holdings in Mereo BioPharma Group were worth $13,334,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Rhumbline Advisers lifted its position in shares of Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after purchasing an additional 2,887 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Mereo BioPharma Group by 58.1% in the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after purchasing an additional 3,928 shares in the last quarter. GSA Capital Partners LLP bought a new position in Mereo BioPharma Group in the 3rd quarter worth approximately $276,000. Fred Alger Management LLC lifted its holdings in Mereo BioPharma Group by 108.1% during the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after buying an additional 53,278 shares in the last quarter. Finally, HealthInvest Partners AB bought a new position in Mereo BioPharma Group in the 3rd quarter valued at $822,000. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Stock Performance

NASDAQ:MREO opened at $3.61 on Monday. Mereo BioPharma Group plc has a 12-month low of $3.17 and a 12-month high of $5.02. The stock’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $3.98.

Insiders Place Their Bets

In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $44,610.60. Following the sale, the general counsel now directly owns 240,007 shares in the company, valued at approximately $1,072,831.29. This trade represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christine Ann Fox sold 9,128 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $40,802.16. Following the completion of the transaction, the chief financial officer now directly owns 108,443 shares of the company’s stock, valued at $484,740.21. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,931 shares of company stock worth $236,602. Insiders own 4.13% of the company’s stock.

Analyst Ratings Changes

MREO has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.50.

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.