Mereo BioPharma Group plc (NASDAQ:MREO) Insider Sells $27,365.04 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider John A. Lewicki sold 7,416 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total transaction of $27,365.04. Following the completion of the sale, the insider now directly owns 65,587 shares of the company’s stock, valued at $242,016.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Mereo BioPharma Group Trading Down 0.3 %

Shares of Mereo BioPharma Group stock opened at $3.48 on Friday. Mereo BioPharma Group plc has a 12-month low of $1.07 and a 12-month high of $4.50. The company has a 50-day simple moving average of $3.29 and a 200 day simple moving average of $3.18.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Advisors Preferred LLC bought a new stake in shares of Mereo BioPharma Group during the first quarter worth $28,000. Golden State Equity Partners boosted its stake in Mereo BioPharma Group by 41.0% in the fourth 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 last quarter. SG Americas Securities LLC acquired a new stake in Mereo BioPharma Group during the 1st quarter worth $54,000. BNP Paribas Financial Markets raised its position in shares of Mereo BioPharma Group by 581,066.7% during 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 last quarter. Finally, Index Fund Advisors Inc. acquired a new position in shares of Mereo BioPharma Group in the 1st quarter valued at $99,000. 62.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. SVB Leerink increased their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Wednesday, June 12th. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They set an “outperform” rating and a $8.00 target price for the company. Finally, Needham & Company LLC increased their target price on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mereo BioPharma Group has a consensus rating of “Buy” and an average 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.