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 published on Monday, Benzinga reports. The brokerage currently has a $7.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Robert W. Baird initiated coverage on Mereo BioPharma Group in a research note on Thursday, June 13th. They issued an outperform rating and a $8.00 target price for the company. Baird R W upgraded Mereo BioPharma Group to a strong-buy rating in a research report on Thursday, June 13th. Leerink Partners increased their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an outperform rating in a research report on Thursday, June 20th. Finally, Needham & Company LLC reiterated a buy rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, August 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. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $7.50.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $4.28 on Monday. The business’s fifty day moving average price is $4.22 and its 200 day moving average price is $3.62. Mereo BioPharma Group has a 12-month low of $3.64 and a 12-month high of $5.02.

Insider Activity at Mereo BioPharma Group

In other Mereo BioPharma Group news, insider John A. Lewicki sold 7,416 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total transaction of $27,365.04. Following the transaction, the insider now owns 65,587 shares of the company’s stock, valued at approximately $242,016.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Denise Scots-Knight sold 40,712 shares of Mereo BioPharma Group stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $150,227.28. Following the transaction, the chief executive officer now owns 801,791 shares of the company’s stock, valued at approximately $2,958,608.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John A. Lewicki sold 7,416 shares of Mereo BioPharma Group stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total transaction of $27,365.04. Following the completion of the transaction, the insider now directly owns 65,587 shares in the company, valued at approximately $242,016.03. The disclosure for this sale can be found here. Insiders have sold a total of 233,495 shares of company stock worth $980,763 in the last ninety days. 4.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MREO. Rhumbline Advisers increased its stake in Mereo BioPharma Group by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after buying an additional 2,887 shares during the period. Advisors Preferred LLC bought a new stake in Mereo BioPharma Group in the first quarter worth approximately $28,000. SG Americas Securities LLC bought a new stake in Mereo BioPharma Group in the first quarter worth approximately $54,000. BNP Paribas Financial Markets grew its position in 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 worth $58,000 after acquiring an additional 17,432 shares in the last quarter. Finally, Index Fund Advisors Inc. bought a new stake in Mereo BioPharma Group in the first quarter worth approximately $99,000. 62.83% of the stock is owned by hedge funds and other 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.