Cantor Fitzgerald Upgrades Mereo BioPharma Group (NASDAQ:MREO) to Strong-Buy

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Sunday,Zacks.com reports.

MREO has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Jefferies Financial Group initiated coverage on shares of Mereo BioPharma Group in a report on Friday. They set a “buy” rating and a $7.00 target price for the company. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Mereo BioPharma Group has a consensus rating of “Buy” and a consensus target price of $7.40.

Mereo BioPharma Group Stock Up 0.8 %

Shares of MREO stock opened at $3.80 on Friday. Mereo BioPharma Group has a 12 month low of $3.17 and a 12 month high of $5.02. The company has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $3.99.

Insider Transactions at Mereo BioPharma Group

In other Mereo BioPharma Group news, CEO Denise Scots-Knight sold 28,611 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $40,802.16. Following the transaction, the chief financial officer now owns 108,443 shares of the company’s stock, valued at $484,740.21. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock valued at $236,602 over the last three months. Corporate insiders own 4.13% of the company’s stock.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP lifted its position in Mereo BioPharma Group by 12.9% during the second 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. Janus Henderson Group PLC raised its stake in shares of Mereo BioPharma Group by 56.7% in the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in shares of Mereo BioPharma Group in the second quarter valued at $24,158,000. Frazier Life Sciences Management L.P. raised its stake in shares of Mereo BioPharma Group by 15.8% in the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after acquiring an additional 696,408 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Mereo BioPharma Group by 46.9% in the second quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after acquiring an additional 1,022,570 shares during the period. Institutional investors own 62.83% of the company’s stock.

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.