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 Mereo BioPharma Group stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $23,297.64. Following the completion of the sale, the insider now owns 89,567 shares of the company’s stock, valued at $400,364.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mereo BioPharma Group Price Performance

MREO traded up $0.22 during midday trading on Monday, reaching $4.50. 805,063 shares of the company were exchanged, compared to its average volume of 902,555. Mereo BioPharma Group plc has a one year low of $3.64 and a one year high of $5.02. The stock’s 50-day simple moving average is $4.21 and its 200 day simple moving average is $3.61.

Hedge Funds Weigh In On Mereo BioPharma Group

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in shares of Mereo BioPharma Group by 70.9% during the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after purchasing an additional 2,887 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Mereo BioPharma Group during the 1st quarter valued at about $28,000. SG Americas Securities LLC bought a new position in shares of Mereo BioPharma Group during the 1st quarter valued at about $54,000. BNP Paribas Financial Markets lifted 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 valued at $58,000 after purchasing an additional 17,432 shares in the last quarter. Finally, Index Fund Advisors Inc. bought a new position in shares of Mereo BioPharma Group during the 1st quarter valued at about $99,000. Institutional investors own 62.83% of the company’s stock.

Analysts Set New Price Targets

MREO has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Robert W. Baird began 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. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Monday. Baird R W upgraded Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Leerink Partners raised 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. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target 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.