Mereo BioPharma Group plc (NASDAQ:MREO) CEO Sells $150,227.28 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 40,712 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total transaction of $150,227.28. Following the sale, the chief executive officer now directly owns 801,791 shares in the company, valued at $2,958,608.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Mereo BioPharma Group Trading Up 3.4 %

Shares of NASDAQ MREO opened at $3.60 on Friday. The company has a 50-day simple moving average of $3.33 and a 200-day simple moving average of $3.19. Mereo BioPharma Group plc has a 12 month low of $1.07 and a 12 month high of $4.50.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Wednesday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

MREO has been the topic of a number of recent analyst reports. SVB Leerink increased their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Robert W. Baird began 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 for the company. Needham & Company LLC raised their target price on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Wednesday, June 12th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Mereo BioPharma Group presently has a consensus rating of “Buy” and an average price target of $7.50.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently bought and sold shares of the business. Advisors Preferred LLC purchased a new stake in Mereo BioPharma Group during the first quarter worth approximately $28,000. Golden State Equity Partners grew its stake in Mereo BioPharma Group by 41.0% during the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after buying an additional 5,900 shares during the period. SG Americas Securities LLC purchased a new stake in Mereo BioPharma Group during the first quarter worth approximately $54,000. BNP Paribas Financial Markets grew its stake in Mereo BioPharma Group by 581,066.7% during the first 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. purchased a new stake in Mereo BioPharma Group during the first quarter worth approximately $99,000. 62.83% of the stock is currently owned by hedge funds and other 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.