Mereo BioPharma Group (NASDAQ:MREO) Trading Up 5.3%

Mereo BioPharma Group plc (NASDAQ:MREO) was up 5.3% during mid-day trading on Monday . The company traded as high as $4.40 and last traded at $4.38. Approximately 151,219 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,350,670 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

MREO has been the topic of several recent research reports. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Needham & Company LLC raised their price objective 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 reaffirmed an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, July 22nd. Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They set an “outperform” rating and a $8.00 price objective on the stock. Finally, SVB Leerink raised 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. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Price Performance

The stock’s 50-day moving average price is $3.67 and its 200 day moving average price is $3.43.

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

Insider Transactions at Mereo BioPharma Group

In other news, insider John A. Lewicki sold 7,416 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Mereo BioPharma Group news, insider Alexandra Hughes-Wilson sold 100,432 shares of Mereo BioPharma Group stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $2.97, for a total transaction of $298,283.04. Following the sale, the insider now owns 32,568 shares in the company, valued at $96,726.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John A. Lewicki sold 7,416 shares of Mereo BioPharma Group stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total transaction of $27,365.04. Following the sale, the insider now owns 65,587 shares in the company, valued at approximately $242,016.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,752 shares of company stock worth $576,214. Insiders own 4.13% of the company’s stock.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new position in shares of Mereo BioPharma Group during the first quarter valued at $16,949,000. Rubric Capital Management LP lifted its holdings in shares of Mereo BioPharma Group by 16.7% during 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 during the period. abrdn plc bought a new position in shares of Mereo BioPharma Group during the fourth quarter valued at $3,583,000. Price T Rowe Associates Inc. MD bought a new position in shares of Mereo BioPharma Group during the first quarter valued at $3,274,000. Finally, NEOS Investment Management LLC lifted its holdings in shares of Mereo BioPharma Group by 751.5% during the fourth 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 during the period. Institutional investors and hedge funds 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.