Insider Selling: Mereo BioPharma Group plc (NASDAQ:MREO) General Counsel Sells $44,610.60 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) General Counsel Charles Sermon sold 9,980 shares of the company’s stock in a transaction on 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 approximately $1,072,831.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Charles Sermon also recently made the following trade(s):

• On Tuesday, June 25th, Charles Sermon sold 14,202 shares of Mereo BioPharma Group stock. The stock was sold at an average price of $3.69, for a total transaction of $52,405.38.

Mereo BioPharma Group Stock Up 6.8 %

Shares of MREO stock opened at $4.22 on Thursday. The stock has a fifty day moving average price of $4.22 and a 200 day moving average price of $3.61. Mereo BioPharma Group plc has a 1 year low of $3.64 and a 1 year high of $5.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C purchased a new position in Mereo BioPharma Group during the 2nd quarter valued at about $24,158,000. Janus Henderson Group PLC acquired a new stake in shares of Mereo BioPharma Group during the 1st quarter worth about $16,949,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Mereo BioPharma Group during the second quarter worth about $15,845,000. Rubric Capital Management LP raised its position in shares of Mereo BioPharma Group by 16.7% in the fourth quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock valued at $31,307,000 after buying an additional 1,936,877 shares during the last quarter. Finally, Perceptive Advisors LLC purchased a new position in shares of Mereo BioPharma Group during the second quarter valued at approximately $4,512,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MREO shares. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Leerink Partners lifted their price target 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 reiterated an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a research note on Thursday, June 13th. They set an “outperform” rating and a $8.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of “Buy” and a consensus price target of $7.50.

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.