Cantor Fitzgerald reaffirmed their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREO – Free Report) 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.
Read Our Latest Report on MREO
Mereo BioPharma Group Price Performance
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.
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