Mereo BioPharma Group (NASDAQ:MREO) Stock Rating Upgraded by Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Sunday,Zacks.com reports.

Several other brokerages also recently commented on MREO. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Jefferies Financial Group started coverage on Mereo BioPharma Group in a research note on Friday. They set a “buy” rating and a $7.00 target price on the stock. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mereo BioPharma Group presently has an average rating of “Buy” and an average target price of $7.40.

Mereo BioPharma Group Stock Up 0.8 %

MREO stock opened at $3.80 on Friday. The business’s 50-day moving average price is $4.03 and its 200-day moving average price is $3.99. Mereo BioPharma Group has a twelve month low of $3.17 and a twelve month high of $5.02.

Insider Buying and Selling at Mereo BioPharma Group

In related news, General Counsel Charles Sermon sold 9,980 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $44,610.60. Following the sale, the general counsel now directly owns 240,007 shares of the company’s stock, valued at $1,072,831.29. This represents a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christine Ann Fox sold 9,128 shares of the business’s 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 $40,802.16. Following the transaction, the chief financial officer now owns 108,443 shares of the company’s stock, valued at $484,740.21. This trade represents a 7.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,931 shares of company stock worth $236,602 over the last ninety days. Company insiders own 4.13% of the company’s stock.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in Mereo BioPharma Group by 70.9% during the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after acquiring an additional 2,887 shares during the period. GAMMA Investing LLC lifted its position in shares of Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after purchasing an additional 3,928 shares during the last quarter. State Street Corp purchased a new stake in shares of Mereo BioPharma Group during the third quarter valued at $195,000. GSA Capital Partners LLP bought a new position in shares of Mereo BioPharma Group in the third quarter worth about $276,000. Finally, Fred Alger Management LLC increased its stake in Mereo BioPharma Group by 108.1% in the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after buying an additional 53,278 shares during the period. 62.83% of the stock is currently owned by hedge funds and other 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.