Mereo BioPharma Group (NASDAQ:MREO) Shares Down 4% – Should You Sell?

Mereo BioPharma Group plc (NASDAQ:MREO)’s stock price was down 4% during trading on Monday . The company traded as low as $3.55 and last traded at $3.57. Approximately 419,846 shares were traded during trading, a decline of 48% from the average daily volume of 799,852 shares. The stock had previously closed at $3.72.

Analyst Ratings Changes

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

Mereo BioPharma Group Stock Up 4.7 %

The company has a fifty day moving average of $4.11 and a 200-day moving average of $3.96.

Insiders Place Their Bets

In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $44,610.60. Following the transaction, the general counsel now directly owns 240,007 shares of the company’s stock, valued at $1,072,831.29. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christine Ann Fox sold 9,128 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 $40,802.16. Following the completion of the transaction, the chief financial officer now directly owns 108,443 shares in the company, valued at $484,740.21. This trade represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,931 shares of company stock valued at $236,602 in the last ninety days. 4.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Mereo BioPharma Group

Several institutional investors have recently made changes to their positions in MREO. Rhumbline Advisers raised its position in shares of Mereo BioPharma Group by 70.9% during the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after buying an additional 2,887 shares during the period. GAMMA Investing LLC raised its position in shares of Mereo BioPharma Group by 58.1% during the 3rd quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after buying an additional 3,928 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Mereo BioPharma Group during the 1st quarter valued at approximately $54,000. State Street Corp purchased a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at approximately $195,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Mereo BioPharma Group during the 3rd quarter valued at approximately $276,000. Hedge funds and other 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.