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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a report published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $7.00 price objective on the stock.

Several other research analysts also recently weighed in on MREO. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a report on Thursday, June 13th. They issued an outperform rating and a $8.00 target price for the company. SVB Leerink lifted their price objective on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Needham & Company LLC raised their target price on shares of Mereo BioPharma Group from $6.00 to $7.00 and gave the company a buy rating in a research note on Wednesday, June 12th. Finally, Baird R W upgraded shares of Mereo BioPharma Group to a strong-buy rating in a report on Thursday, June 13th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Mereo BioPharma Group currently has an average rating of Buy and a consensus price target of $7.50.

Mereo BioPharma Group Trading Up 3.3 %

NASDAQ MREO opened at $4.08 on Monday. The business’s fifty day moving average is $3.65 and its 200 day moving average is $3.41. Mereo BioPharma Group has a fifty-two week low of $1.07 and a fifty-two week high of $4.50.

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

Insider Transactions at Mereo BioPharma Group

In related news, insider John A. Lewicki sold 7,416 shares of the firm’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 $27,365.04. Following the completion of the transaction, the insider now directly owns 65,587 shares of the company’s stock, valued at $242,016.03. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Alexandra Hughes-Wilson sold 100,432 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John A. Lewicki sold 7,416 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total value of $27,365.04. Following the sale, the insider now owns 65,587 shares in the company, valued at approximately $242,016.03. The disclosure for this sale can be found here. Insiders have sold 175,752 shares of company stock valued at $576,214 in the last ninety days. Corporate insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. NEOS Investment Management LLC boosted its stake in shares of Mereo BioPharma Group by 751.5% during the 4th quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock worth $813,000 after purchasing an additional 310,577 shares during the period. abrdn plc purchased a new position in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $3,583,000. Rubric Capital Management LP grew its stake in shares of Mereo BioPharma Group by 16.7% during the fourth quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock valued at $31,307,000 after buying an additional 1,936,877 shares during the last quarter. Golden State Equity Partners raised its holdings in shares of Mereo BioPharma Group by 41.0% in the fourth quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock worth $47,000 after buying an additional 5,900 shares during the period. Finally, Monaco Asset Management SAM raised its holdings in shares of Mereo BioPharma Group by 13.6% in the fourth quarter. Monaco Asset Management SAM now owns 676,494 shares of the company’s stock worth $1,563,000 after buying an additional 80,765 shares during the period. Institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

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.