Mereo BioPharma Group plc (NASDAQ:MREO) General Counsel Charles Sermon Sells 14,202 Shares

Mereo BioPharma Group plc (NASDAQ:MREO) General Counsel Charles Sermon sold 14,202 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total value of $52,405.38. Following the completion of the transaction, the general counsel now owns 216,574 shares in the company, valued at $799,158.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mereo BioPharma Group Trading Down 0.3 %

Shares of NASDAQ:MREO traded down $0.01 during trading on Thursday, hitting $3.48. 867,986 shares of the company’s stock traded hands, compared to its average volume of 1,440,808. The company has a 50-day moving average price of $3.29 and a 200-day moving average price of $3.18. Mereo BioPharma Group plc has a 52 week low of $1.07 and a 52 week high of $4.50.

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

Hedge Funds Weigh In On Mereo BioPharma Group

Large investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in shares of Mereo BioPharma Group in the first quarter valued at about $28,000. SG Americas Securities LLC acquired a new stake in Mereo BioPharma Group in the 1st quarter valued at approximately $54,000. BNP Paribas Financial Markets lifted its stake in Mereo BioPharma Group by 581,066.7% in the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after acquiring an additional 17,432 shares in the last quarter. Golden State Equity Partners boosted its position in Mereo BioPharma Group by 41.0% during the 4th quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after acquiring an additional 5,900 shares during the last quarter. Finally, Index Fund Advisors Inc. bought a new position in shares of Mereo BioPharma Group during the 1st quarter worth approximately $99,000. Institutional investors own 62.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MREO shares. SVB Leerink increased their target price 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. Needham & Company LLC increased their price target on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Wednesday, June 12th. Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 target price on the stock. Finally, Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Four research 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, the stock currently has a consensus rating of “Buy” and an average 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.