Mereo BioPharma Group (NASDAQ:MREO) Reaches New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday. Four 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 a consensus rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Stock Down 5.8 %

The company’s fifty day simple moving average is $4.26 and its 200-day simple moving average is $3.93.

Insider Buying and Selling

In other Mereo BioPharma Group news, Director Deepika Pakianathan sold 105,244 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total transaction of $466,230.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Denise Scots-Knight sold 28,611 shares of the company’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 transaction of $127,891.17. Following the transaction, the chief executive officer now owns 868,967 shares in the company, valued at $3,884,282.49. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock worth $702,832 in the last ninety days. 4.13% of the stock is owned by insiders.

Institutional Trading of Mereo BioPharma Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Mereo BioPharma Group by 581,066.7% during the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after acquiring an additional 17,432 shares during the period. SG Americas Securities LLC acquired a new stake in Mereo BioPharma Group during the 1st quarter worth about $54,000. Index Fund Advisors Inc. acquired a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $99,000. Price T Rowe Associates Inc. MD acquired a new stake in Mereo BioPharma Group during the first quarter worth about $3,274,000. Finally, Knoll Capital Management LLC lifted its holdings in Mereo BioPharma Group by 62.3% in the first quarter. Knoll Capital Management LLC now owns 260,470 shares of the company’s stock valued at $860,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds 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.