Mereo BioPharma Group (NASDAQ:MREO) Receives Overweight Rating from Cantor Fitzgerald

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

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

Mereo BioPharma Group Price Performance

NASDAQ MREO opened at $4.40 on Tuesday. The business has a 50 day simple moving average of $4.26 and a 200 day simple moving average of $3.67. 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 Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $44,610.60. Following the transaction, the general counsel now directly owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Denise Scots-Knight sold 28,611 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 transaction of $127,891.17. Following the transaction, the chief executive officer now owns 868,967 shares of the company’s stock, valued at $3,884,282.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Charles Sermon sold 9,980 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $44,610.60. Following the sale, the general counsel now owns 240,007 shares of the company’s stock, valued at $1,072,831.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,175 shares of company stock worth $702,832. 4.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mereo BioPharma Group

Several large investors have recently bought and sold shares of the stock. Rubric Capital Management LP lifted its position 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 buying an additional 1,754,350 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Mereo BioPharma Group during the second quarter worth $24,158,000. Janus Henderson Group PLC purchased a new position in Mereo BioPharma Group in the first quarter worth $16,949,000. Frazier Life Sciences Management L.P. bought a new position in Mereo BioPharma Group in the 2nd quarter valued at $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. 62.83% of the stock is currently owned by institutional investors.

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.