Mereo BioPharma Group’s (MREO) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREOFree Report) in a research report sent to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $7.00 target price on the stock.

MREO has been the subject of several other research reports. Needham & Company LLC restated a buy rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Baird R W upgraded shares of Mereo BioPharma Group to a strong-buy rating in a research report on Thursday, June 13th. Leerink Partners upped their price target on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Finally, Robert W. Baird initiated coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an outperform rating and a $8.00 price target for the company. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and an average target price of $7.50.

View Our Latest Research Report on Mereo BioPharma Group

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $4.22 on Monday. Mereo BioPharma Group has a 52 week low of $3.64 and a 52 week high of $5.02. The firm has a 50 day simple moving average of $4.22 and a 200 day simple moving average of $3.61.

Insiders Place Their Bets

In other Mereo BioPharma Group news, CFO Christine Ann Fox sold 9,128 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 $40,802.16. Following the completion of the sale, the chief financial officer now owns 108,443 shares in the company, valued at approximately $484,740.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Mereo BioPharma Group news, CFO Christine Ann Fox sold 9,128 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 $40,802.16. Following the completion of the sale, the chief financial officer now owns 108,443 shares in the company, valued at approximately $484,740.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Denise Scots-Knight sold 28,611 shares of Mereo BioPharma Group stock in a transaction on 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 sale, the chief executive officer now directly owns 868,967 shares of the company’s stock, valued at approximately $3,884,282.49. The disclosure for this sale can be found here. Insiders sold a total of 233,495 shares of company stock worth $980,763 in the last quarter. 4.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Rubric Capital Management LP lifted its stake 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 purchasing an additional 1,754,350 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Mereo BioPharma Group in the 2nd quarter valued at $24,158,000. Janus Henderson Group PLC acquired a new stake in shares of Mereo BioPharma Group in the 1st quarter valued at $16,949,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Mereo BioPharma Group in the 2nd quarter valued at $15,845,000. Finally, Millennium Management LLC lifted its stake in shares of Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after purchasing an additional 1,022,570 shares during the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Company Profile

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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.

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Analyst Recommendations for Mereo BioPharma Group (NASDAQ:MREO)

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