John A. Lewicki Sells 7,416 Shares of Mereo BioPharma Group plc (NASDAQ:MREO) Stock

Mereo BioPharma Group plc (NASDAQ:MREOGet Free Report) insider John A. Lewicki sold 7,416 shares of Mereo BioPharma Group stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total value of $27,365.04. Following the completion of the sale, the insider now owns 65,587 shares of the company’s stock, valued at $242,016.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mereo BioPharma Group Stock Performance

Shares of MREO traded down $0.01 during midday trading on Thursday, hitting $3.48. The stock had a trading volume of 867,986 shares, compared to its average volume of 1,440,808. The company has a 50 day simple moving average of $3.29 and a two-hundred day simple moving average of $3.18. Mereo BioPharma Group plc has a twelve month low of $1.07 and a twelve month high of $4.50.

Mereo BioPharma Group (NASDAQ:MREOGet Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.01) EPS for the quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MREO shares. Robert W. Baird assumed 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 target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Wednesday, June 12th. Needham & Company LLC upped their price objective on Mereo BioPharma Group from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Finally, SVB Leerink lifted their price target on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $7.50.

Read Our Latest Research Report on MREO

Hedge Funds Weigh In On Mereo BioPharma Group

Institutional investors have recently added to or reduced their stakes in the company. 683 Capital Management LLC raised its holdings in shares of Mereo BioPharma Group by 11.1% in the 3rd quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company’s stock valued at $7,740,000 after purchasing an additional 600,000 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Mereo BioPharma Group during the 3rd quarter valued at $1,032,000. Rock Springs Capital Management LP lifted its stake in shares of Mereo BioPharma Group by 9.0% during the 3rd quarter. Rock Springs Capital Management LP now owns 7,676,481 shares of the company’s stock worth $9,903,000 after buying an additional 634,090 shares during the last quarter. Tejara Capital Ltd boosted its holdings in shares of Mereo BioPharma Group by 5.8% during the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock worth $4,147,000 after buying an additional 177,030 shares during the period. Finally, abrdn plc bought a new stake in shares of Mereo BioPharma Group during the fourth quarter worth approximately $3,583,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Company Profile

(Get Free Report)

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.

Further Reading

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