Mereo BioPharma Group (NASDAQ:MREO) Sets New 12-Month Low – What’s Next?

Mereo BioPharma Group plc (NASDAQ:MREO) reached a new 52-week low on Friday . The company traded as low as $3.62 and last traded at $3.63, with a volume of 102993 shares. The stock had previously closed at $3.82.

Analyst Ratings Changes

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

Mereo BioPharma Group Trading Down 7.6 %

The company has a fifty day simple moving average of $4.25 and a 200 day simple moving average of $3.94.

Insider Buying and Selling

In other Mereo BioPharma Group news, CFO Christine Ann Fox sold 9,128 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 108,443 shares in the company, valued at approximately $484,740.21. This trade represents a 7.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $44,610.60. Following the completion of the transaction, the general counsel now directly owns 240,007 shares in the company, valued at $1,072,831.29. This represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock valued at $702,832 over the last ninety days. 4.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mereo BioPharma Group

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD bought a new position in shares of Mereo BioPharma Group during the 1st quarter worth approximately $3,274,000. Janus Henderson Group PLC bought a new position in Mereo BioPharma Group during the first quarter worth $16,949,000. Frazier Life Sciences Management L.P. acquired a new stake in Mereo BioPharma Group in the second quarter worth $15,845,000. Integral Health Asset Management LLC increased its stake in Mereo BioPharma Group by 86.8% in the second quarter. Integral Health Asset Management LLC now owns 1,775,000 shares of the company’s stock valued at $6,390,000 after purchasing an additional 825,000 shares in the last quarter. Finally, Rubric Capital Management LP raised its holdings in shares of Mereo BioPharma Group by 12.9% during the second quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock valued at $55,106,000 after purchasing an additional 1,754,350 shares during the period. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.