Mereo BioPharma Group plc (NASDAQ:MREO) CFO Sells $40,802.16 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) CFO Christine Ann Fox sold 9,128 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the sale, the chief financial officer now owns 108,443 shares in the company, valued at approximately $484,740.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Christine Ann Fox also recently made the following trade(s):

• On Tuesday, June 25th, Christine Ann Fox sold 12,990 shares of Mereo BioPharma Group stock. The stock was sold at an average price of $3.69, for a total value of $47,933.10.

Mereo BioPharma Group Trading Up 5.1 %

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MREO. Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Monday. Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Robert W. Baird began coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They set an “outperform” rating and a $8.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Finally, Leerink Partners increased their price target on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Deerfield Management Company L.P. Series C purchased a new position in shares of Mereo BioPharma Group in the 2nd quarter worth $24,158,000. Janus Henderson Group PLC bought a new stake in Mereo BioPharma Group during the 1st quarter worth approximately $16,949,000. Frazier Life Sciences Management L.P. bought a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $15,845,000. Rubric Capital Management LP lifted 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 acquiring an additional 1,936,877 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new position in Mereo BioPharma Group in the 2nd quarter worth approximately $4,512,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.