Clearline Capital LP Sells 82,384 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Clearline Capital LP trimmed its stake in Mereo BioPharma Group plc (NASDAQ:MREO) by 2.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,244,334 shares of the company’s stock after selling 82,384 shares during the period. Clearline Capital LP owned 2.31% of Mereo BioPharma Group worth $13,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC lifted its position in Mereo BioPharma Group by 108.1% during the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after acquiring an additional 53,278 shares during the last quarter. Acuta Capital Partners LLC grew its holdings in Mereo BioPharma Group by 86.2% in the 3rd quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock valued at $5,181,000 after buying an additional 583,700 shares during the last quarter. HealthInvest Partners AB bought a new position in Mereo BioPharma Group in the 3rd quarter worth approximately $822,000. GSA Capital Partners LLP acquired a new position in shares of Mereo BioPharma Group during the third quarter worth approximately $276,000. Finally, GAMMA Investing LLC boosted its position in shares of Mereo BioPharma Group by 58.1% in the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after acquiring an additional 3,928 shares during the period. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Stock Performance

MREO opened at $3.61 on Monday. The stock’s 50 day simple moving average is $4.08 and its 200-day simple moving average is $3.98. Mereo BioPharma Group plc has a 1 year low of $3.17 and a 1 year high of $5.02.

Insiders Place Their Bets

In other Mereo BioPharma Group news, CEO Denise Scots-Knight sold 28,611 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total transaction of $127,891.17. Following the completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Charles Sermon sold 9,980 shares of the company’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 $44,610.60. Following the completion of the sale, the general counsel now owns 240,007 shares in the company, valued at approximately $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 have sold 52,931 shares of company stock worth $236,602 over the last 90 days. Corporate insiders own 4.13% of the company’s stock.

Analysts Set New Price Targets

MREO has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mereo BioPharma Group has an average rating of “Buy” and an average price target of $7.50.

Mereo BioPharma Group 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.