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

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Monday, July 22nd. Needham & Company LLC raised their price target 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 raised Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. SVB Leerink lifted their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Robert W. Baird started coverage on Mereo BioPharma Group in a report on Thursday, June 13th. They set an “outperform” rating and a $8.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $7.50.

Mereo BioPharma Group Trading Up 1.0 %

The stock has a fifty day moving average price of $3.67 and a two-hundred day moving average price of $3.43.

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

Insider Buying and Selling

In related news, insider Alexandra Hughes-Wilson sold 100,432 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total value of $298,283.04. Following the transaction, the insider now owns 32,568 shares in the company, valued at $96,726.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mereo BioPharma Group news, insider Alexandra Hughes-Wilson sold 100,432 shares of Mereo BioPharma Group stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total value of $298,283.04. Following the transaction, the insider now owns 32,568 shares in the company, valued at $96,726.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Denise Scots-Knight sold 40,712 shares of Mereo BioPharma Group stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $150,227.28. Following the completion of the transaction, the chief executive officer now owns 801,791 shares in the company, valued at approximately $2,958,608.79. 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. Company insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Golden State Equity Partners grew its holdings in shares of Mereo BioPharma Group by 41.0% during the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after purchasing an additional 5,900 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Mereo BioPharma Group during the first quarter worth about $28,000. SG Americas Securities LLC bought a new stake in shares of Mereo BioPharma Group during the first quarter worth about $54,000. BNP Paribas Financial Markets grew its holdings in shares of 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 worth $58,000 after purchasing an additional 17,432 shares during the last quarter. Finally, Index Fund Advisors Inc. bought a new stake in shares of Mereo BioPharma Group during the first quarter worth about $99,000. Institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

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.