Short Interest in Mereo BioPharma Group plc (NASDAQ:MREO) Increases By 23.2%

Mereo BioPharma Group plc (NASDAQ:MREO) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 5,630,000 shares, an increase of 23.2% from the October 31st total of 4,570,000 shares. Based on an average trading volume of 751,400 shares, the short-interest ratio is presently 7.5 days.

Insider Buying and Selling

In other news, CEO Denise Scots-Knight sold 28,611 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 value of $127,891.17. Following the completion of the transaction, the chief executive officer now directly owns 868,967 shares in the company, valued at $3,884,282.49. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Charles Sermon sold 9,980 shares of the 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 transaction, the general counsel now directly owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. The trade was a 3.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock valued at $236,602 in the last quarter. Company insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after acquiring an additional 2,887 shares during the period. GAMMA Investing LLC increased its position in shares of Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after purchasing an additional 3,928 shares during the period. State Street Corp bought a new position in Mereo BioPharma Group in the third quarter worth $195,000. Polar Asset Management Partners Inc. increased its holdings in Mereo BioPharma Group by 36.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock valued at $815,000 after buying an additional 52,500 shares during the period. Finally, Fred Alger Management LLC raised its stake in shares of Mereo BioPharma Group by 108.1% in the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after buying an additional 53,278 shares in the last quarter. 62.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MREO shares. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Trading Up 0.3 %

Shares of NASDAQ:MREO traded up $0.01 during midday trading on Monday, hitting $3.62. The company’s stock had a trading volume of 279,624 shares, compared to its average volume of 794,835. The stock’s 50 day simple moving average is $4.08 and its 200 day simple moving average is $3.98. Mereo BioPharma Group has a fifty-two week low of $3.17 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.