Marshall Wace LLP Takes $4.12 Million Position in Mereo BioPharma Group plc (NASDAQ:MREO)

Marshall Wace LLP purchased a new stake in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,144,051 shares of the company's stock, valued at approximately $4,119,000. Marshall Wace LLP owned 0.82% of Mereo BioPharma Group at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Rhumbline Advisers boosted its stake in shares of Mereo BioPharma Group by 70.9% during the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company's stock worth $25,000 after acquiring an additional 2,887 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Mereo BioPharma Group in the first quarter valued at $28,000. SG Americas Securities LLC acquired a new position in shares of Mereo BioPharma Group during the 1st quarter worth $54,000. BNP Paribas Financial Markets boosted its position in shares of Mereo BioPharma Group by 581,066.7% in the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company's stock worth $58,000 after buying an additional 17,432 shares in the last quarter. Finally, Index Fund Advisors Inc. acquired a new stake in Mereo BioPharma Group in the 1st quarter valued at about $99,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday. Baird R W upgraded Mereo BioPharma Group to a "strong-buy" rating in a report on Thursday, June 13th. Needham & Company LLC reissued a "buy" rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Leerink Partners increased their price objective on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an "outperform" rating in a research note on Thursday, June 20th. Finally, Robert W. Baird began coverage on shares of Mereo BioPharma Group in a research note on Thursday, June 13th. They issued an "outperform" rating and a $8.00 target price for the company. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $7.50.

Insider Buying and Selling at Mereo BioPharma Group

In related news, CEO Denise Scots-Knight sold 28,611 shares of the firm'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 value of $127,891.17. Following the sale, the chief executive officer now directly owns 868,967 shares of the company's stock, valued at $3,884,282.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Deepika Pakianathan sold 105,244 shares of Mereo BioPharma Group stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $4.43, for a total value of $466,230.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Denise Scots-Knight sold 28,611 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $127,891.17. Following the sale, the chief executive officer now owns 868,967 shares of the company's stock, valued at $3,884,282.49. The disclosure for this sale can be found here. Insiders sold 158,175 shares of company stock worth $702,832 in the last 90 days. 4.13% of the stock is owned by company insiders.

Mereo BioPharma Group Price Performance

Shares of MREO stock traded up $0.11 during mid-day trading on Thursday, hitting $4.40. 926,323 shares of the company's stock were exchanged, compared to its average volume of 904,522. The stock has a 50-day simple moving average of $4.25 and a two-hundred day simple moving average of $3.66. Mereo BioPharma Group plc has a fifty-two week low of $3.64 and a fifty-two week high of $5.02.

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.