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

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

MREO has been the topic of a number of other research reports. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a research note on Thursday, June 13th. They issued an outperform rating and a $8.00 target price on the stock. Baird R W upgraded shares of Mereo BioPharma Group to a strong-buy rating in a research note on Thursday, June 13th. Leerink Partners increased 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 note on Thursday, June 20th. Finally, Needham & Company LLC reiterated a buy rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $7.50.

Mereo BioPharma Group Stock Performance

Shares of Mereo BioPharma Group stock opened at $4.22 on Monday. The firm’s 50-day simple moving average is $4.22 and its 200-day simple moving average is $3.61. Mereo BioPharma Group has a 1 year low of $3.64 and a 1 year high of $5.02.

Insiders Place Their Bets

In other Mereo BioPharma Group news, CEO Denise Scots-Knight sold 28,611 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $127,891.17. Following the completion of the transaction, the chief executive officer now owns 868,967 shares in the company, valued at approximately $3,884,282.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Denise Scots-Knight sold 28,611 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $127,891.17. Following the completion of the transaction, the chief executive officer now directly owns 868,967 shares in the company, valued at $3,884,282.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John A. Lewicki sold 7,416 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 65,587 shares of the company’s stock, valued at $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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MREO. NEOS Investment Management LLC boosted its holdings in shares of Mereo BioPharma Group by 751.5% in the fourth quarter. NEOS Investment Management LLC now owns 351,905 shares of the company’s stock valued at $813,000 after acquiring an additional 310,577 shares in the last quarter. Rubric Capital Management LP boosted its holdings in 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 worth $31,307,000 after buying an additional 1,936,877 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after buying an additional 17,432 shares in the last quarter. SG Americas Securities LLC bought a new stake in Mereo BioPharma Group during the first quarter worth approximately $54,000. Finally, Advisors Preferred LLC bought a new stake in Mereo BioPharma Group during the first quarter worth approximately $28,000. 62.83% of the stock is currently owned by institutional investors.

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.