John A. Lewicki Sells 7,416 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider John A. Lewicki sold 7,416 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total value of $27,365.04. Following the sale, the insider now owns 65,587 shares in the company, valued at $242,016.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mereo BioPharma Group Price Performance

NASDAQ MREO traded down $0.01 during mid-day trading on Thursday, reaching $3.48. 867,986 shares of the stock were exchanged, compared to its average volume of 1,440,808. Mereo BioPharma Group plc has a one year low of $1.07 and a one year high of $4.50. The stock has a 50 day simple moving average of $3.29 and a 200-day simple moving average of $3.18.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MREO shares. Needham & Company LLC lifted 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 report on Wednesday, June 12th. SVB Leerink boosted 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 note on Thursday, June 20th. Robert W. Baird assumed coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They set an “outperform” rating and a $8.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday, June 12th. Finally, Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $7.50.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds have recently added to or reduced their stakes in the business. NEOS Investment Management LLC increased its stake in shares of Mereo BioPharma Group by 751.5% in the 4th quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock valued at $813,000 after acquiring an additional 310,577 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Mereo BioPharma Group in the third quarter worth $1,032,000. abrdn plc acquired a new stake in Mereo BioPharma Group in the fourth quarter worth $3,583,000. 683 Capital Management LLC increased its stake in Mereo BioPharma Group by 11.1% in the third quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company’s stock valued at $7,740,000 after purchasing an additional 600,000 shares in the last quarter. Finally, Rubric Capital Management LP boosted its position in shares of Mereo BioPharma Group by 16.7% during the 4th quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock worth $31,307,000 after purchasing an additional 1,936,877 shares in the last quarter. 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.