Mereo BioPharma Group (NASDAQ:MREO) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a report released on Monday, Benzinga reports. They currently have a $7.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a research note on Thursday, June 13th. They set an outperform rating and a $8.00 price target on the stock. SVB Leerink upped their price target on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an outperform rating in a research note on Thursday, June 20th. Needham & Company LLC upped their price target on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the stock a buy rating in a research note on Wednesday, June 12th. Finally, Baird R W raised shares of Mereo BioPharma Group to a strong-buy rating in a research note on Thursday, June 13th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $7.50.

Mereo BioPharma Group Price Performance

Shares of MREO opened at $3.95 on Monday. The company’s fifty day moving average is $3.63 and its two-hundred day moving average is $3.41. Mereo BioPharma Group has a 1 year low of $1.07 and a 1 year high of $4.50.

Mereo BioPharma Group (NASDAQ:MREO) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Insider Activity at Mereo BioPharma Group

In related news, insider John A. Lewicki sold 7,416 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $27,365.04. Following the sale, the insider now directly owns 65,587 shares of the company’s stock, valued at approximately $242,016.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, General Counsel Charles Sermon sold 14,202 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $52,405.38. Following the sale, the general counsel now directly owns 216,574 shares of the company’s stock, valued at approximately $799,158.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John A. Lewicki sold 7,416 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total transaction of $27,365.04. Following the completion of the sale, the insider now directly owns 65,587 shares in the company, valued at $242,016.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 175,752 shares of company stock valued at $576,214. Insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new position in Mereo BioPharma Group in the 1st quarter valued at about $16,949,000. Knoll Capital Management LLC lifted its holdings in Mereo BioPharma Group by 62.3% in the 1st quarter. Knoll Capital Management LLC now owns 260,470 shares of the company’s stock valued at $860,000 after purchasing an additional 100,000 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Mereo BioPharma Group in the 1st quarter valued at about $3,274,000. Index Fund Advisors Inc. purchased a new position in Mereo BioPharma Group in the 1st quarter valued at about $99,000. Finally, Advisors Preferred LLC purchased a new position in Mereo BioPharma Group in the 1st quarter valued at about $28,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

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.