Mereo BioPharma Group (NASDAQ:MREO) Sees Unusually-High Trading Volume

Mereo BioPharma Group plc (NASDAQ:MREOGet Free Report) saw strong trading volume on Friday . 1,491,815 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 1,396,051 shares.The stock last traded at $4.29 and had previously closed at $3.99.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Wednesday. Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a report on Thursday. They set an “outperform” rating and a $8.00 price objective on the stock. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday. Finally, Needham & Company LLC upped their price objective on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday.

View Our Latest Stock Report on Mereo BioPharma Group

Mereo BioPharma Group Trading Up 7.5 %

The company’s fifty day simple moving average is $3.11 and its 200 day simple moving average is $3.06.

Mereo BioPharma Group (NASDAQ:MREOGet Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.01) earnings per share for the quarter. As a group, equities research analysts anticipate that Mereo BioPharma Group plc will post 0.03 EPS for the current year.

Insider Activity

In other news, insider Alexandra Hughes-Wilson sold 100,432 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total transaction of $298,283.04. Following the sale, the insider now directly owns 32,568 shares in the company, valued at $96,726.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new position in shares of Mereo BioPharma Group in the first quarter worth approximately $28,000. Golden State Equity Partners increased its position in shares of Mereo BioPharma Group by 41.0% in the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after purchasing an additional 5,900 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Mereo BioPharma Group in the first quarter worth approximately $54,000. BNP Paribas Financial Markets increased its position 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 worth $58,000 after purchasing an additional 17,432 shares during the last quarter. Finally, Index Fund Advisors Inc. bought a new position in shares of Mereo BioPharma Group in the first quarter worth approximately $99,000. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Company Profile

(Get Free Report)

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.

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