Mereo BioPharma Group’s (MREO) “Overweight” Rating Reaffirmed 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 morning, Benzinga reports. They currently have a $7.00 target price on the stock.

MREO has been the subject of a number of other research reports. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They set an outperform rating and a $8.00 target price for the company. Leerink Partners lifted their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an outperform rating in a research note on Thursday, June 20th. Baird R W raised shares of Mereo BioPharma Group to a strong-buy rating in a report on Thursday, June 13th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and a consensus target price of $7.50.

Mereo BioPharma Group Stock Performance

MREO stock opened at $4.40 on Tuesday. The stock has a fifty day moving average of $4.26 and a 200-day moving average of $3.67. Mereo BioPharma Group has a fifty-two week low of $3.64 and a fifty-two week high of $5.02.

Insider Activity at Mereo BioPharma Group

In other Mereo BioPharma Group news, CEO Denise Scots-Knight sold 28,611 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 $127,891.17. Following the sale, the chief executive officer now directly owns 868,967 shares in the company, valued at $3,884,282.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Mereo BioPharma Group news, 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 value of $127,891.17. Following the sale, the chief executive officer now owns 868,967 shares of the company’s stock, valued at $3,884,282.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Deepika Pakianathan sold 105,244 shares of Mereo BioPharma Group stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total value of $466,230.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,175 shares of company stock valued at $702,832. Corporate insiders own 4.13% of the company’s stock.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP lifted its holdings in shares of Mereo BioPharma Group by 12.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after acquiring an additional 1,754,350 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in Mereo BioPharma Group during the second quarter valued at about $24,158,000. Janus Henderson Group PLC bought a new stake in Mereo BioPharma Group during the first quarter worth about $16,949,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Mereo BioPharma Group in the 2nd quarter worth about $15,845,000. Finally, Millennium Management LLC increased its position in shares of Mereo BioPharma Group by 46.9% during 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 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.