Insider Selling: Mereo BioPharma Group plc (NASDAQ:MREO) CEO Sells $127,891.17 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 28,611 shares of the business’s stock in a transaction on 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 directly owns 868,967 shares of the company’s stock, valued at approximately $3,884,282.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 shares were sold at an average price of $3.69, for a total transaction of $150,227.28.

Mereo BioPharma Group Stock Up 6.8 %

MREO opened at $4.22 on Thursday. Mereo BioPharma Group plc has a 12 month low of $3.64 and a 12 month high of $5.02. The firm’s fifty day simple moving average is $4.22 and its 200 day simple moving average is $3.61.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MREO. NEOS Investment Management LLC lifted its position in Mereo BioPharma Group by 751.5% during the 4th 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. Rubric Capital Management LP lifted its position in Mereo BioPharma Group by 16.7% during 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. BNP Paribas Financial Markets lifted its position in Mereo BioPharma Group by 581,066.7% during the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after buying an additional 17,432 shares in the last quarter. SG Americas Securities LLC bought a new stake in Mereo BioPharma Group during the 1st quarter worth about $54,000. Finally, Advisors Preferred LLC bought a new stake in Mereo BioPharma Group during the 1st quarter worth about $28,000. 62.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday. Leerink Partners boosted 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. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $7.50.

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.