John A. Lewicki Sells 7,416 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider John A. Lewicki sold 7,416 shares of the company’s 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 sale, the insider now directly owns 65,587 shares in the company, valued at approximately $242,016.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mereo BioPharma Group Stock Performance

MREO opened at $3.60 on Friday. Mereo BioPharma Group plc has a fifty-two week low of $1.07 and a fifty-two week high of $4.50. The company’s 50-day moving average is $3.33 and its 200 day moving average is $3.19.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.01) EPS for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MREO. 683 Capital Management LLC lifted its stake in Mereo BioPharma Group by 11.1% in the 3rd quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company’s stock worth $7,740,000 after purchasing an additional 600,000 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in Mereo BioPharma Group in the 3rd quarter worth approximately $1,032,000. Rock Springs Capital Management LP lifted its stake in Mereo BioPharma Group by 9.0% in the 3rd quarter. Rock Springs Capital Management LP now owns 7,676,481 shares of the company’s stock worth $9,903,000 after purchasing an additional 634,090 shares in the last quarter. Tejara Capital Ltd lifted its stake in Mereo BioPharma Group by 5.8% in the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock worth $4,147,000 after purchasing an additional 177,030 shares in the last quarter. Finally, abrdn plc purchased a new stake in Mereo BioPharma Group in the 4th quarter worth approximately $3,583,000. 62.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. SVB Leerink upped their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday, June 20th. Robert W. Baird started 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 on the stock. Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Needham & Company LLC upped their target price on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a 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 stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus 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.