Renaissance Technologies LLC Has $6.34 Million Stake in Mereo BioPharma Group plc (NASDAQ:MREO)

Renaissance Technologies LLC boosted its holdings in Mereo BioPharma Group plc (NASDAQ:MREO) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,762,003 shares of the company’s stock after buying an additional 89,694 shares during the period. Renaissance Technologies LLC’s holdings in Mereo BioPharma Group were worth $6,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MREO. NEOS Investment Management LLC lifted its stake in shares of Mereo BioPharma Group by 751.5% in the 4th quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock valued at $813,000 after purchasing an additional 310,577 shares during the period. Rubric Capital Management LP boosted its holdings in Mereo BioPharma Group by 16.7% during the fourth quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock worth $31,307,000 after buying an additional 1,936,877 shares during the last quarter. BNP Paribas Financial Markets grew 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 worth $58,000 after buying an additional 17,432 shares during the period. SG Americas Securities LLC bought a new stake in shares of Mereo BioPharma Group in the 1st quarter valued at about $54,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Mereo BioPharma Group in the 1st quarter valued at approximately $28,000. 62.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

MREO has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, August 13th. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Leerink Partners boosted their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research note on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, September 16th. Finally, Robert W. Baird assumed coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $7.50.

Insider Activity at Mereo BioPharma Group

In other Mereo BioPharma Group news, Director Deepika Pakianathan sold 105,244 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $4.43, for a total transaction of $466,230.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Mereo BioPharma Group news, Director Deepika Pakianathan sold 105,244 shares of Mereo BioPharma Group stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total value of $466,230.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Charles Sermon sold 9,980 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $44,610.60. Following the transaction, the general counsel now owns 240,007 shares of the company’s stock, valued at $1,072,831.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,175 shares of company stock valued at $702,832. 4.13% of the stock is owned by insiders.

Mereo BioPharma Group Price Performance

MREO opened at $4.00 on Thursday. The business’s 50-day moving average price is $4.22 and its two-hundred day moving average price is $3.63. Mereo BioPharma Group plc has a 1 year low of $3.64 and a 1 year high of $5.02.

Mereo BioPharma Group 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.