Denise Scots-Knight Sells 28,611 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 28,611 shares of Mereo BioPharma Group stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $127,891.17. Following the completion of the sale, the chief executive officer now owns 868,967 shares of the company’s stock, valued at $3,884,282.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Denise Scots-Knight also recently made the following trade(s):

• On Tuesday, June 25th, Denise Scots-Knight sold 40,712 shares of Mereo BioPharma Group stock. The shares were sold at an average price of $3.69, for a total transaction of $150,227.28.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $3.95 on Wednesday. The company has a 50 day moving average of $4.21 and a two-hundred day moving average of $3.61. Mereo BioPharma Group plc has a twelve month low of $3.64 and a twelve month high of $5.02.

Institutional Trading of Mereo BioPharma Group

A number of institutional investors have recently made changes to their positions in MREO. Perceptive Advisors LLC purchased a new stake in Mereo BioPharma Group in the second quarter valued at about $4,512,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Mereo BioPharma Group during the second quarter valued at about $15,845,000. Blue Owl Capital Holdings LP purchased a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at approximately $3,232,000. Millennium Management LLC boosted its stake in Mereo BioPharma Group by 46.9% in the 2nd 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. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Mereo BioPharma Group during the 2nd quarter worth approximately $24,158,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Wall Street Analyst Weigh In

MREO has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Monday. Robert W. Baird assumed 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. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Leerink Partners upped their price objective on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Finally, Baird R W upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.