Research Analysts’ Recent Ratings Updates for Mereo BioPharma Group (MREO)

A number of firms have modified their ratings and price targets on shares of Mereo BioPharma Group (NASDAQ: MREO) recently:

• 6/20/2024 – Mereo BioPharma Group had its price target raised by analysts at SVB Leerink LLC from $6.00 to $8.00. They now have an “outperform” rating on the stock.
• 6/13/2024 – Mereo BioPharma Group was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 6/13/2024 – Mereo BioPharma Group is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $8.00 price target on the stock.
• 6/12/2024 – Mereo BioPharma Group had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $7.00 price target on the stock.
• 6/12/2024 – Mereo BioPharma Group had its price target raised by analysts at Needham & Company LLC from $6.00 to $7.00. They now have a “buy” rating on the stock.
• 5/16/2024 – Mereo BioPharma Group had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $7.00 price target on the stock.
• 5/16/2024 – Mereo BioPharma Group had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $6.00 price target on the stock.

Mereo BioPharma Group Trading Up 0.8 %

Shares of NASDAQ MREO opened at $3.63 on Tuesday. Mereo BioPharma Group plc has a 12-month low of $1.07 and a 12-month high of $4.50. The stock has a 50 day simple moving average of $3.33 and a 200-day simple moving average of $3.21.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.01) EPS for the quarter.

Insider Activity

In other news, insider Alexandra Hughes-Wilson sold 100,432 shares of Mereo BioPharma Group stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $2.97, for a total value of $298,283.04. Following the transaction, the insider now owns 32,568 shares of the company’s stock, valued at approximately $96,726.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Charles Sermon sold 14,202 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total transaction of $52,405.38. Following the completion of the sale, the general counsel now directly owns 216,574 shares of the company’s stock, valued at $799,158.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexandra Hughes-Wilson sold 100,432 shares of Mereo BioPharma Group stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total value of $298,283.04. Following the completion of the transaction, the insider now directly owns 32,568 shares in the company, valued at approximately $96,726.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,752 shares of company stock worth $576,214. 4.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in Mereo BioPharma Group during the 1st quarter valued at $28,000. Golden State Equity Partners raised its position in Mereo BioPharma Group by 41.0% during the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock valued at $47,000 after buying an additional 5,900 shares during the period. SG Americas Securities LLC purchased a new stake in Mereo BioPharma Group in the 1st quarter worth about $54,000. BNP Paribas Financial Markets boosted its position in 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 acquiring an additional 17,432 shares during the period. Finally, Index Fund Advisors Inc. purchased a new position in Mereo BioPharma Group during the 1st quarter valued at about $99,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.