HealthInvest Partners AB Invests $822,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

HealthInvest Partners AB acquired a new stake in shares of Mereo BioPharma Group plc (NASDAQ:MREO) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $822,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C bought a new position in shares of Mereo BioPharma Group during the 2nd quarter worth approximately $24,158,000. Janus Henderson Group PLC acquired a new position in shares of Mereo BioPharma Group during the first quarter worth $16,949,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at $15,845,000. Rubric Capital Management LP grew its stake in Mereo BioPharma Group by 12.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after buying an additional 1,754,350 shares during the last quarter. Finally, Perceptive Advisors LLC acquired a new position in Mereo BioPharma Group during the 2nd quarter valued at about $4,512,000. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Insider Activity

In related news, General Counsel Charles Sermon sold 9,980 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $44,610.60. Following the transaction, the general counsel now directly owns 240,007 shares in the company, valued at approximately $1,072,831.29. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Denise Scots-Knight sold 28,611 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 in the company, valued at $3,884,282.49. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock worth $236,602 over the last 90 days. 4.13% of the stock is currently owned by company insiders.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO traded up $0.02 during trading on Thursday, reaching $3.60. 50,139 shares of the company’s stock traded hands, compared to its average volume of 793,331. Mereo BioPharma Group plc has a fifty-two week low of $3.17 and a fifty-two week high of $5.02. The company has a 50-day simple moving average of $4.18 and a 200-day simple moving average of $3.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Company Profile

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.