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

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

Several other analysts also recently issued reports on the company. Jefferies Financial Group assumed coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 target price on the stock. Lifesci Capital assumed coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Monday, January 13th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $7.83.

Mereo BioPharma Group Price Performance

Shares of MREO opened at $2.56 on Tuesday. The business’s 50 day moving average is $2.81 and its 200 day moving average is $3.58. Mereo BioPharma Group has a 12-month low of $2.25 and a 12-month high of $5.02.

Institutional Trading of Mereo BioPharma Group

A number of large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its position in shares of Mereo BioPharma Group by 38.7% during the 4th quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company’s stock valued at $59,843,000 after purchasing an additional 4,776,697 shares during the last quarter. Rock Springs Capital Management LP increased its position in shares of Mereo BioPharma Group by 0.7% during the 4th quarter. Rock Springs Capital Management LP now owns 9,599,170 shares of the company’s stock valued at $33,597,000 after purchasing an additional 65,000 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of Mereo BioPharma Group by 15.8% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after purchasing an additional 696,408 shares during the last quarter. Acuta Capital Partners LLC increased its position in shares of Mereo BioPharma Group by 86.2% during the 3rd quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock valued at $5,181,000 after purchasing an additional 583,700 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Mereo BioPharma Group during the 4th quarter valued at approximately $3,377,000. 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.