Mereo BioPharma Group’s (MREO) Buy Rating Reaffirmed at Needham & Company LLC

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $7.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 71.57% from the stock’s current price.

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Stock Down 4.7 %

Shares of MREO stock traded down $0.20 during trading hours on Tuesday, hitting $4.08. The company’s stock had a trading volume of 612,680 shares, compared to its average volume of 744,044. The business has a fifty day moving average of $4.29 and a 200-day moving average of $3.92. Mereo BioPharma Group has a twelve month low of $3.64 and a twelve month high of $5.02.

Insider Buying and Selling at Mereo BioPharma Group

In other news, CFO Christine Ann Fox sold 9,128 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $40,802.16. Following the transaction, the chief financial officer now directly owns 108,443 shares in the company, valued at approximately $484,740.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Denise Scots-Knight sold 28,611 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Christine Ann Fox sold 9,128 shares of the business’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 $40,802.16. Following the sale, the chief financial officer now owns 108,443 shares in the company, valued at $484,740.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,175 shares of company stock worth $702,832 over the last 90 days. Insiders own 4.13% of the company’s stock.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of Mereo BioPharma Group by 581,066.7% in the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after buying an additional 17,432 shares during the period. SG Americas Securities LLC acquired a new position in Mereo BioPharma Group in the first quarter worth approximately $54,000. Index Fund Advisors Inc. bought a new stake in shares of Mereo BioPharma Group during the 1st quarter worth $99,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Mereo BioPharma Group in the 1st quarter worth $3,274,000. Finally, Knoll Capital Management LLC raised its position in shares of Mereo BioPharma Group by 62.3% during the first quarter. Knoll Capital Management LLC now owns 260,470 shares of the company’s stock worth $860,000 after purchasing an additional 100,000 shares during the period. 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.