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

Mereo BioPharma Group plc (NASDAQ:MREO) CEO Denise Scots-Knight sold 28,611 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $127,891.17. Following the transaction, the chief executive officer now owns 868,967 shares in the company, valued at $3,884,282.49. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction of $150,227.28.

Mereo BioPharma Group Trading Up 6.8 %

Shares of MREO opened at $4.22 on Thursday. Mereo BioPharma Group plc has a 52 week low of $3.64 and a 52 week high of $5.02. The firm’s 50-day simple moving average is $4.22 and its 200 day simple moving average is $3.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC acquired a new position in Mereo BioPharma Group in the 2nd quarter valued at about $4,512,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $15,845,000. Blue Owl Capital Holdings LP acquired a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $3,232,000. Millennium Management LLC grew its position in shares of Mereo BioPharma Group by 46.9% during the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after purchasing an additional 1,022,570 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $24,158,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Leerink Partners boosted their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, August 13th. Robert W. Baird assumed coverage on shares of Mereo BioPharma Group in a research note on Thursday, June 13th. They set an “outperform” rating and a $8.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Monday. Finally, Baird R W upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a research note on Thursday, June 13th. 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 MarketBeat, the stock has an average rating of “Buy” and an average target price 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.