Insider Selling: Mereo BioPharma Group plc (NASDAQ:MREO) Insider Sells $298,283.04 in Stock

Mereo BioPharma Group plc (NASDAQ:MREO) insider Alexandra Hughes-Wilson sold 100,432 shares of Mereo BioPharma Group stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $2.97, for a total transaction of $298,283.04. Following the sale, the insider now owns 32,568 shares in the company, valued at approximately $96,726.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mereo BioPharma Group Price Performance

MREO stock opened at $2.95 on Friday. The firm has a fifty day moving average price of $3.02 and a 200 day moving average price of $2.93. Mereo BioPharma Group plc has a fifty-two week low of $0.92 and a fifty-two week high of $4.36.

Analysts Set New Price Targets

A number of analysts have issued reports on MREO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Thursday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Mereo BioPharma Group in a report on Thursday, May 16th.

Hedge Funds Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Preferred LLC purchased a new stake in shares of Mereo BioPharma Group during the 1st quarter valued at about $28,000. SG Americas Securities LLC bought a new stake in Mereo BioPharma Group during the first quarter worth approximately $54,000. BNP Paribas Financial Markets raised 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. Golden State Equity Partners lifted its stake in shares of Mereo BioPharma Group by 41.0% in the 4th quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock valued at $47,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Index Fund Advisors Inc. bought a new stake in shares of Mereo BioPharma Group in the 1st quarter valued at approximately $99,000. 62.83% of the stock is owned by hedge funds and other institutional investors.

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.