Mereo BioPharma Group (NASDAQ:MREO) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research note issued to investors on Monday, Benzinga reports. They currently have a $7.00 price objective on the stock.

Several other research analysts also recently commented on MREO. Needham & Company LLC reissued a buy rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Baird R W upgraded shares of Mereo BioPharma Group to a strong-buy rating in a research report on Thursday, June 13th. Leerink Partners boosted their price objective on shares of 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, Robert W. Baird began coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an outperform rating and a $8.00 price objective 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $7.50.

Mereo BioPharma Group Price Performance

Shares of MREO opened at $4.50 on Monday. Mereo BioPharma Group has a one year low of $3.64 and a one year high of $5.02. The business’s 50 day simple moving average is $4.21 and its 200-day simple moving average is $3.61.

Insider Buying and Selling at Mereo BioPharma Group

In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 14,202 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were 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 owns 216,574 shares in the company, valued at approximately $799,158.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Charles Sermon sold 14,202 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $52,405.38. Following the completion of the sale, the general counsel now owns 216,574 shares in the company, valued at approximately $799,158.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John A. Lewicki sold 7,416 shares of the company’s stock in a transaction on 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 owns 65,587 shares of the company’s stock, valued at approximately $242,016.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 233,495 shares of company stock worth $980,763. 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 added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after purchasing an additional 2,887 shares during the last quarter. Advisors Preferred LLC bought a new position in Mereo BioPharma Group in the first quarter valued at approximately $28,000. SG Americas Securities LLC bought a new position in Mereo BioPharma Group in the first quarter valued at approximately $54,000. BNP Paribas Financial Markets grew its stake 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 valued at $58,000 after purchasing an additional 17,432 shares in the last quarter. Finally, Index Fund Advisors Inc. bought a new position in Mereo BioPharma Group in the first quarter valued at approximately $99,000. 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.