Cantor Fitzgerald Reiterates Overweight Rating for Mereo BioPharma Group (NASDAQ:MREO)

Cantor Fitzgerald restated their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research note released on Tuesday, Benzinga reports. The firm currently has a $7.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird began coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They set an outperform rating and a $8.00 price objective for the company. Needham & Company LLC restated a buy rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Baird R W raised Mereo BioPharma Group to a strong-buy rating in a research note on Thursday, June 13th. Finally, Leerink Partners increased their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mereo BioPharma Group currently has a consensus rating of Buy and a consensus target price of $7.50.

Mereo BioPharma Group Price Performance

MREO stock opened at $4.40 on Tuesday. The company’s fifty day moving average price is $4.25 and its 200-day moving average price is $3.66. Mereo BioPharma Group has a one year low of $3.64 and a one year high of $5.02.

Insider Buying and Selling at Mereo BioPharma Group

In other news, CFO Christine Ann Fox sold 9,128 shares of Mereo BioPharma Group stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the completion of the transaction, the chief financial officer now owns 108,443 shares in the company, valued at approximately $484,740.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Christine Ann Fox sold 9,128 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 $40,802.16. Following the sale, the chief financial officer now owns 108,443 shares of the company’s stock, valued at $484,740.21. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Denise Scots-Knight sold 28,611 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 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 have sold a total of 158,175 shares of company stock worth $702,832 over the last ninety days. Company insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted 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 during the last quarter. Advisors Preferred LLC bought a new stake in shares of Mereo BioPharma Group during the first quarter worth $28,000. SG Americas Securities LLC bought a new stake in shares of Mereo BioPharma Group during the first quarter worth $54,000. BNP Paribas Financial Markets boosted its stake in shares of Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after purchasing an additional 17,432 shares during the period. Finally, Index Fund Advisors Inc. bought a new position in shares of Mereo BioPharma Group in the first quarter worth about $99,000. Institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

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.