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 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 owns 89,567 shares in the company, valued at $400,364.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mereo BioPharma Group Stock Down 12.2 %

Shares of NASDAQ MREO opened at $3.95 on Wednesday. The business has a fifty day simple moving average of $4.21 and a 200-day simple moving average of $3.61. Mereo BioPharma Group plc has a 12 month low of $3.64 and a 12 month high of $5.02.

Wall Street Analyst Weigh In

Several brokerages recently commented on MREO. Robert W. Baird assumed coverage on Mereo BioPharma Group in a 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. Leerink Partners lifted their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Monday. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and an average price target of $7.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after acquiring an additional 2,887 shares during the period. Advisors Preferred LLC acquired a new stake in Mereo BioPharma Group during the 1st quarter valued at $28,000. SG Americas Securities LLC purchased a new stake in shares of Mereo BioPharma Group in the first quarter valued at $54,000. BNP Paribas Financial Markets boosted its position in shares of 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 buying an additional 17,432 shares during the period. Finally, Index Fund Advisors Inc. purchased a new position in shares of Mereo BioPharma Group during the first quarter valued at $99,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.