Forefront Analytics LLC Trims Stake in Mereo BioPharma Group plc (NASDAQ:MREO)

Forefront Analytics LLC reduced its position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) by 17.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,231 shares of the company’s stock after selling 7,586 shares during the quarter. Forefront Analytics LLC’s holdings in Mereo BioPharma Group were worth $130,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Rubric Capital Management LP increased its holdings 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 purchasing an additional 1,754,350 shares during the period. Deerfield Management Company L.P. Series C bought a new position in shares of Mereo BioPharma Group in the 2nd quarter worth $24,158,000. Janus Henderson Group PLC bought a new position in shares of Mereo BioPharma Group in the 1st quarter worth $16,949,000. Frazier Life Sciences Management L.P. bought a new position in shares of Mereo BioPharma Group in the 2nd quarter worth $15,845,000. Finally, Millennium Management LLC raised its position in shares of Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after acquiring an additional 1,022,570 shares in the last quarter. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mereo BioPharma Group

In other news, CEO Denise Scots-Knight sold 28,611 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $127,891.17. Following the sale, the chief executive officer now owns 868,967 shares in the company, valued at $3,884,282.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Denise Scots-Knight sold 28,611 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $127,891.17. Following the sale, the chief executive officer now owns 868,967 shares in the company, valued at $3,884,282.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christine Ann Fox sold 9,128 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the completion of the transaction, the chief financial officer now directly owns 108,443 shares of the company’s stock, valued at approximately $484,740.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,175 shares of company stock worth $702,832. 4.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MREO has been the subject of several recent research reports. Baird R W raised Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Robert W. Baird began coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price target for the company. Leerink Partners upped their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Monday, September 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $7.50.

Mereo BioPharma Group Stock Up 1.0 %

Shares of NASDAQ:MREO opened at $4.14 on Friday. The business’s 50-day moving average is $4.24 and its 200 day moving average is $3.64. Mereo BioPharma Group plc has a 1 year low of $3.64 and a 1 year high of $5.02.

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.