Mereo BioPharma Group (NASDAQ:MREO) Stock Price Up 3.3%

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) were up 3.3% during mid-day trading on Tuesday . The stock traded as high as $4.69 and last traded at $4.64. Approximately 72,518 shares were traded during trading, a decline of 92% from the average daily volume of 894,922 shares. The stock had previously closed at $4.49.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MREO shares. Leerink Partners upped their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, July 22nd. Finally, Robert W. Baird assumed coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price objective on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Stock Up 2.0 %

The business has a fifty day moving average of $4.11 and a two-hundred day moving average of $3.58.

Insider Activity

In related news, insider John A. Lewicki sold 7,416 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $27,365.04. Following the sale, the insider now directly owns 65,587 shares of the company’s stock, valued at $242,016.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mereo BioPharma Group news, Director Deepika Pakianathan sold 105,244 shares of the stock in a transaction on Thursday, August 22nd. The shares were 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 SEC, which can be accessed through the SEC website. Also, insider John A. Lewicki sold 7,416 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total value of $27,365.04. Following the transaction, the insider now owns 65,587 shares in the company, valued at $242,016.03. The disclosure for this sale can be found here. Insiders sold a total of 180,564 shares of company stock valued at $744,162 over the last 90 days. Insiders own 4.13% of the company’s stock.

Institutional Trading of Mereo BioPharma Group

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its position in Mereo BioPharma Group by 70.9% in the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after buying an additional 2,887 shares during the last quarter. Advisors Preferred LLC bought a new position in Mereo BioPharma Group during the first quarter valued at about $28,000. SG Americas Securities LLC acquired a new stake in Mereo BioPharma Group in the 1st quarter worth approximately $54,000. BNP Paribas Financial Markets boosted its holdings 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. Finally, Index Fund Advisors Inc. acquired a new position in shares of Mereo BioPharma Group during the first quarter worth approximately $99,000. 62.83% of the stock is currently owned by institutional investors.

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.