Mereo BioPharma Group plc (NASDAQ:MREO) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 56.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,345,866 shares of the company's stock after buying an additional 4,464,984 shares during the quarter. Janus Henderson Group PLC owned 8.80% of Mereo BioPharma Group worth $50,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Deerfield Management Company L.P. Series C purchased a new position in shares of Mereo BioPharma Group in the second quarter valued at about $24,158,000. Frazier Life Sciences Management L.P. bought a new position in shares of Mereo BioPharma Group during the second quarter valued at approximately $15,845,000. Rubric Capital Management LP increased its position 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 buying an additional 1,754,350 shares during the period. Perceptive Advisors LLC purchased a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at approximately $4,512,000. Finally, Marshall Wace LLP bought a new position in shares of Mereo BioPharma Group in the 2nd quarter worth about $4,119,000. Hedge funds and other institutional investors own 62.83% of the company's stock.

Wall Street Analysts Forecast Growth

MREO has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Mereo BioPharma Group in a report on Friday. They issued a "buy" rating and a $7.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $7.40.

Insider Activity

In other 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Charles Sermon sold 9,980 shares of the 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 $44,610.60. Following the completion of the transaction, the general counsel now 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 sold a total of 52,931 shares of company stock valued at $236,602 in the last three months. 4.13% of the stock is currently owned by corporate insiders.

Mereo BioPharma Group Price Performance

Shares of MREO traded up $0.30 during midday trading on Friday, reaching $3.77. 628,315 shares of the stock were exchanged, compared to its average volume of 798,133. Mereo BioPharma Group plc has a 52 week low of $3.17 and a 52 week high of $5.02. The company's 50 day moving average is $4.04 and its two-hundred day moving average is $3.98.

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.