Mereo BioPharma Group (NASDAQ:MREO) Stock Price Down 4% – Time to Sell?

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

Analyst Upgrades and Downgrades

MREO has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mereo BioPharma Group currently has an average rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Stock Performance

The stock has a 50-day moving average price of $4.15 and a 200-day moving average price of $3.96.

Insiders Place Their Bets

In other Mereo BioPharma Group news, CFO Christine Ann Fox sold 9,128 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Charles Sermon sold 9,980 shares of Mereo BioPharma Group stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $44,610.60. Following the completion of the sale, the general counsel now directly owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. This trade represents a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,931 shares of company stock worth $236,602.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Mereo BioPharma Group by 70.9% in the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after buying an additional 2,887 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 3,928 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Mereo BioPharma Group in the 1st quarter worth $54,000. BNP Paribas Financial Markets raised its holdings in shares of Mereo BioPharma Group by 581,066.7% in the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after purchasing an additional 17,432 shares during the last quarter. Finally, State Street Corp bought a new position in shares of Mereo BioPharma Group in the third quarter valued at approximately $195,000. Institutional investors 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.