Insider Selling: Mereo BioPharma Group plc (NASDAQ:MREO) General Counsel Sells 9,980 Shares of Stock

Mereo BioPharma Group plc (NASDAQ:MREO) General Counsel Charles Sermon sold 9,980 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $44,610.60. Following the transaction, the general counsel now directly owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. The transaction was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $3.69, for a total transaction of $52,405.38.

Mereo BioPharma Group Price Performance

MREO stock opened at $4.22 on Thursday. The firm has a 50 day simple moving average of $4.22 and a 200-day simple moving average of $3.61. Mereo BioPharma Group plc has a twelve month low of $3.64 and a twelve month high of $5.02.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP grew its stake in Mereo BioPharma Group by 12.9% in the second quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after purchasing an additional 1,754,350 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in Mereo BioPharma Group during the 2nd quarter worth approximately $24,158,000. Janus Henderson Group PLC acquired a new position in shares of Mereo BioPharma Group in the 1st quarter worth approximately $16,949,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Mereo BioPharma Group in the 2nd quarter worth approximately $15,845,000. Finally, Millennium Management LLC increased its holdings in shares of Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after acquiring an additional 1,022,570 shares during the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.