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

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $7.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 59.82% from the company’s current price.

Other equities analysts also recently issued reports about the company. 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. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Leerink Partners raised their price objective on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Robert W. Baird began coverage on Mereo BioPharma Group in a report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Stock Up 2.3 %

NASDAQ MREO traded up $0.10 during trading on Monday, reaching $4.38. 280,154 shares of the company’s stock were exchanged, compared to its average volume of 878,915. Mereo BioPharma Group has a 1 year low of $3.64 and a 1 year high of $5.02. The company has a 50 day moving average price of $4.19 and a two-hundred day moving average price of $3.60.

Insider Activity

In related news, Director Deepika Pakianathan sold 105,244 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $4.43, for a total transaction of $466,230.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Deepika Pakianathan sold 105,244 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total value of $466,230.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John A. Lewicki sold 7,416 shares of Mereo BioPharma Group 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 completion of the sale, 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. Over the last 90 days, insiders have sold 180,564 shares of company stock valued at $744,162. Company insiders own 4.13% of the company’s stock.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NEOS Investment Management LLC raised its holdings in shares of Mereo BioPharma Group by 751.5% in the fourth quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock worth $813,000 after acquiring an additional 310,577 shares during the last quarter. Rubric Capital Management LP lifted its holdings in Mereo BioPharma Group by 16.7% in the 4th quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock valued at $31,307,000 after purchasing an additional 1,936,877 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Mereo BioPharma Group by 581,066.7% during the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after purchasing an additional 17,432 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Mereo BioPharma Group in the first quarter valued at approximately $54,000. Finally, Advisors Preferred LLC acquired a new stake in Mereo BioPharma Group during the first quarter worth approximately $28,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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.