Frazier Life Sciences Management L.P. Buys 696,408 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Frazier Life Sciences Management L.P. raised its holdings in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 15.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,097,779 shares of the company's stock after purchasing an additional 696,408 shares during the period. Mereo BioPharma Group makes up about 0.8% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 26th largest holding. Frazier Life Sciences Management L.P. owned approximately 3.63% of Mereo BioPharma Group worth $20,952,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Mereo BioPharma Group by 70.9% in the 2nd 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. Renaissance Technologies LLC raised its position in shares of Mereo BioPharma Group by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,762,003 shares of the company's stock valued at $6,343,000 after buying an additional 89,694 shares in the last quarter. Rubric Capital Management LP raised its position in shares of Mereo BioPharma Group by 12.9% in the 2nd 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 in the last quarter. Integral Health Asset Management LLC raised its position in shares of Mereo BioPharma Group by 86.8% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,775,000 shares of the company's stock valued at $6,390,000 after buying an additional 825,000 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at approximately $4,119,000. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Price Performance

MREO stock traded up $0.06 during trading on Tuesday, reaching $3.86. 528,477 shares of the company were exchanged, compared to its average volume of 792,678. The company has a 50-day moving average of $4.03 and a two-hundred day moving average of $4.00. Mereo BioPharma Group plc has a twelve month low of $3.17 and a twelve month high of $5.02.

Insider Buying and Selling

In other news, General Counsel Charles Sermon sold 9,980 shares of the company'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 $44,610.60. Following the sale, the general counsel now directly owns 240,007 shares of the company's stock, valued at approximately $1,072,831.29. This represents a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Christine Ann Fox sold 9,128 shares of the company's stock in a transaction on Thursday, September 12th. The shares were 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 represents a 7.76 % 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 worth $236,602 in the last three months. 4.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MREO. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a "strong-buy" rating in a research report on Sunday. Jefferies Financial Group began coverage on shares of Mereo BioPharma Group in a research report on Friday. They issued a "buy" rating and a $7.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group currently has an average rating of "Buy" and a consensus target price of $7.40.

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.