Mereo BioPharma Group (NASDAQ:MREO) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Mereo BioPharma Group (NASDAQ:MREO) to a strong-buy rating in a report released on Sunday morning,Zacks.com reports.

Several other research analysts also recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $7.40.

Mereo BioPharma Group Stock Up 1.6 %

MREO stock opened at $3.86 on Friday. Mereo BioPharma Group has a 52 week low of $3.17 and a 52 week high of $5.02. The business has a 50-day simple moving average of $4.03 and a 200 day simple moving average of $4.00.

Insider Activity

In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of Mereo BioPharma Group stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $44,610.60. Following the completion of the transaction, the general counsel now owns 240,007 shares in the company, valued at approximately $1,072,831.29. The trade was a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Denise Scots-Knight sold 28,611 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $127,891.17. Following the sale, the chief executive officer now directly owns 868,967 shares of the company’s stock, valued at $3,884,282.49. This represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,931 shares of company stock worth $236,602 in the last three months. Company insiders own 4.13% of the company’s stock.

Institutional Trading of Mereo BioPharma Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP boosted its holdings in shares of Mereo BioPharma Group by 12.9% in the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after buying an additional 1,754,350 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Mereo BioPharma Group by 56.7% in the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Mereo BioPharma Group during the 2nd quarter valued at approximately $24,158,000. Frazier Life Sciences Management L.P. increased its stake in shares of Mereo BioPharma Group by 15.8% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock worth $20,952,000 after purchasing an additional 696,408 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after purchasing an additional 1,022,570 shares during the period. 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.