John A. Lewicki Sells 5,212 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider John A. Lewicki sold 5,212 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $23,297.64. Following the transaction, the insider now owns 89,567 shares in the company, valued at $400,364.49. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO opened at $3.95 on Wednesday. The stock’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $3.61. Mereo BioPharma Group plc has a 12-month low of $3.64 and a 12-month high of $5.02.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP increased its holdings in shares of Mereo BioPharma Group by 12.9% in the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after acquiring an additional 1,754,350 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in shares of Mereo BioPharma Group in the second quarter valued at approximately $24,158,000. Janus Henderson Group PLC bought a new stake in shares of Mereo BioPharma Group during the first quarter valued at approximately $16,949,000. Frazier Life Sciences Management L.P. bought a new position in Mereo BioPharma Group in the 2nd quarter worth approximately $15,845,000. Finally, Millennium Management LLC increased its position in 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 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.