Denise Scots-Knight Sells 28,611 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 28,611 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 $127,891.17. Following the completion of the transaction, the chief executive officer now owns 868,967 shares in the company, valued at approximately $3,884,282.49. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Denise Scots-Knight also recently made the following trade(s):

• On Tuesday, June 25th, Denise Scots-Knight sold 40,712 shares of Mereo BioPharma Group stock. The stock was sold at an average price of $3.69, for a total value of $150,227.28.

Mereo BioPharma Group Stock Up 5.1 %

Shares of MREO traded up $0.22 during trading hours on Monday, reaching $4.50. 805,063 shares of the stock traded hands, compared to its average volume of 902,555. The stock has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $3.61. Mereo BioPharma Group plc has a 52 week low of $3.64 and a 52 week high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Several large investors have recently added to or reduced their stakes in the company. NEOS Investment Management LLC boosted its stake in Mereo BioPharma Group by 751.5% in the fourth quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock worth $813,000 after buying an additional 310,577 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Mereo BioPharma Group during the 1st quarter valued at about $3,274,000. Janus Henderson Group PLC bought a new stake in shares of Mereo BioPharma Group in the 1st quarter worth $16,949,000. Rubric Capital Management LP increased its holdings in Mereo BioPharma Group by 16.7% in the 4th quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock worth $31,307,000 after buying an additional 1,936,877 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after purchasing an additional 17,432 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MREO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, August 13th. Leerink Partners increased their target price 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. Finally, Robert W. Baird began coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price target on the stock. Four 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, Mereo BioPharma Group has an average 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.