Cantor Fitzgerald Reaffirms Overweight Rating for Mereo BioPharma Group (NASDAQ:MREO)

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports. They presently have a $7.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 166.16% from the company’s current price.

MREO has been the subject of several other reports. Jefferies Financial Group began coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 price target for the company. Lifesci Capital began coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Price Performance

MREO opened at $2.63 on Tuesday. Mereo BioPharma Group has a 12 month low of $2.25 and a 12 month high of $5.02. The stock has a fifty day moving average price of $2.88 and a 200-day moving average price of $3.61.

Institutional Trading of Mereo BioPharma Group

Several large investors have recently added to or reduced their stakes in MREO. Janus Henderson Group PLC boosted its stake in shares of Mereo BioPharma Group by 38.7% in the fourth quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company’s stock worth $59,843,000 after buying an additional 4,776,697 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Mereo BioPharma Group in the fourth quarter worth about $3,377,000. Tema Etfs LLC purchased a new stake in shares of Mereo BioPharma Group in the fourth quarter worth about $3,117,000. Frazier Life Sciences Management L.P. boosted 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 worth $20,952,000 after buying an additional 696,408 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Mereo BioPharma Group in the 4th quarter worth about $2,166,000. Hedge funds and other 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.