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

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

Mereo BioPharma Group Stock Performance

MREO opened at $4.50 on Tuesday. The firm has a 50-day moving average of $4.21 and a 200 day moving average of $3.61. Mereo BioPharma Group plc has a fifty-two week low of $3.64 and a fifty-two week high of $5.02.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors and hedge funds have recently bought and sold shares of MREO. Rubric Capital Management LP raised its stake in shares of Mereo BioPharma Group by 12.9% in the second quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock valued at $55,106,000 after buying an additional 1,754,350 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in Mereo BioPharma Group during the second quarter valued at about $24,158,000. Janus Henderson Group PLC bought a new position in Mereo BioPharma Group during the first quarter worth about $16,949,000. Frazier Life Sciences Management L.P. bought a new position in Mereo BioPharma Group during the second quarter worth about $15,845,000. Finally, Millennium Management LLC increased its stake in shares of Mereo BioPharma Group by 46.9% in the second quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after purchasing an additional 1,022,570 shares in the last quarter. 62.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MREO. Robert W. Baird assumed coverage on Mereo BioPharma Group in a research note on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, August 13th. Leerink Partners raised their price target on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Monday. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to 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.