Mereo BioPharma Group’s (MREO) “Overweight” Rating Reiterated at Cantor Fitzgerald

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

Other equities research analysts also recently issued reports about the stock. Baird R W raised shares of Mereo BioPharma Group to a strong-buy rating in a report on Thursday, June 13th. Needham & Company LLC increased their target price on Mereo BioPharma Group from $6.00 to $7.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. SVB Leerink raised their price target on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an outperform rating in a report on Thursday, June 20th. Finally, Robert W. Baird started coverage on Mereo BioPharma Group in a research note on Thursday, June 13th. They set an outperform rating and a $8.00 price objective on the stock. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $7.50.

Mereo BioPharma Group Stock Up 3.3 %

NASDAQ:MREO opened at $4.08 on Monday. Mereo BioPharma Group has a 12 month low of $1.07 and a 12 month high of $4.50. The firm’s 50 day moving average is $3.65 and its 200 day moving average is $3.41.

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

Insider Buying and Selling at Mereo BioPharma Group

In other news, insider Alexandra Hughes-Wilson sold 100,432 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $2.97, for a total value of $298,283.04. Following the transaction, the insider now owns 32,568 shares of the company’s stock, valued at $96,726.96. 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 Mereo BioPharma Group stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $2.97, for a total transaction of $298,283.04. Following the completion of the sale, the insider now owns 32,568 shares in the company, valued at approximately $96,726.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John A. Lewicki sold 7,416 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was 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 in the company, valued at $242,016.03. The disclosure for this sale can be found here. Insiders sold a total of 175,752 shares of company stock valued at $576,214 in the last three months. Company insiders own 4.13% of the company’s stock.

Institutional Trading of Mereo BioPharma Group

A number of hedge funds have recently made changes to their positions in MREO. Janus Henderson Group PLC purchased a new stake in Mereo BioPharma Group during the first quarter valued at about $16,949,000. Knoll Capital Management LLC raised its holdings in shares of Mereo BioPharma Group by 62.3% during the 1st quarter. Knoll Capital Management LLC now owns 260,470 shares of the company’s stock valued at $860,000 after buying an additional 100,000 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Mereo BioPharma Group in the 1st quarter worth approximately $3,274,000. Index Fund Advisors Inc. purchased a new stake in Mereo BioPharma Group in the first quarter worth approximately $99,000. Finally, Advisors Preferred LLC bought a new position in Mereo BioPharma Group during the first quarter valued at approximately $28,000. 62.83% of the stock is 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.