Mereo BioPharma Group plc (NASDAQ:MREO) Receives Average Recommendation of “Buy” from Analysts

Mereo BioPharma Group plc (NASDAQ:MREO) has been given a consensus rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.40.

MREO has been the subject of several recent research reports. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Sunday. Needham & Company LLC restated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group started coverage on Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price target on the stock.

Insider Buying and Selling at Mereo BioPharma Group

In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $44,610.60. Following the completion of the sale, the general counsel now directly owns 240,007 shares in the company, valued at $1,072,831.29. This represents a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christine Ann Fox sold 9,128 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the completion of the sale, the chief financial officer now directly owns 108,443 shares in the company, valued at $484,740.21. This represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,931 shares of company stock valued at $236,602. Company insiders own 4.13% of the company’s stock.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. lifted its position in shares of Mereo BioPharma Group by 15.8% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after acquiring an additional 696,408 shares during the last quarter. State Street Corp acquired a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at $195,000. Polar Asset Management Partners Inc. lifted its position in shares of Mereo BioPharma Group by 36.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock valued at $815,000 after acquiring an additional 52,500 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Mereo BioPharma Group by 56.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Mereo BioPharma Group by 108.1% during the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after acquiring an additional 53,278 shares during the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $3.86 on Friday. Mereo BioPharma Group has a 12 month low of $3.17 and a 12 month high of $5.02. The stock has a fifty day moving average price of $4.03 and a 200 day moving average price of $4.00.

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.