John A. Lewicki Sells 5,212 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider John A. Lewicki sold 5,212 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $23,297.64. Following the completion of the sale, the insider now directly owns 89,567 shares in the company, valued at approximately $400,364.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Mereo BioPharma Group Stock Up 5.1 %

Shares of MREO traded up $0.22 during mid-day trading on Monday, hitting $4.50. The company’s stock had a trading volume of 805,063 shares, compared to its average volume of 902,555. Mereo BioPharma Group plc has a one year low of $3.64 and a one year high of $5.02. The stock’s 50-day moving average is $4.21 and its two-hundred day moving average is $3.61.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MREO. Robert W. Baird began coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They set 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 report on Thursday, June 13th. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, August 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, Leerink Partners increased their price target on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $7.50.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NEOS Investment Management LLC raised its stake in 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 acquiring an additional 310,577 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Mereo BioPharma Group in the first quarter worth about $3,274,000. Janus Henderson Group PLC acquired a new stake in Mereo BioPharma Group in the first quarter worth about $16,949,000. Rubric Capital Management LP increased its position in Mereo BioPharma Group by 16.7% in the fourth quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock worth $31,307,000 after purchasing an additional 1,936,877 shares during the period. Finally, BNP Paribas Financial Markets increased its position 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 worth $58,000 after purchasing an additional 17,432 shares during the period. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.