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 released on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $7.00 price target on the stock.

Several other research analysts have also recently issued reports on MREO. Baird R W raised shares of Mereo BioPharma Group to a strong-buy rating in a report on Thursday, June 13th. Needham & Company LLC reissued a buy rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Robert W. Baird began coverage on Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an outperform rating and a $8.00 price objective on the stock. Finally, Leerink Partners lifted their target price on Mereo BioPharma Group from $6.00 to $8.00 and gave the stock an outperform rating in a report on Thursday, June 20th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $7.50.

Mereo BioPharma Group Price Performance

NASDAQ MREO opened at $4.40 on Tuesday. Mereo BioPharma Group has a 12 month low of $3.64 and a 12 month high of $5.02. The stock’s fifty day moving average price is $4.25 and its 200-day moving average price is $3.66.

Insider Activity at Mereo BioPharma Group

In other Mereo BioPharma Group news, CEO Denise Scots-Knight sold 28,611 shares of Mereo BioPharma Group 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 sale, the chief executive officer now owns 868,967 shares of the company’s stock, valued at approximately $3,884,282.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Charles Sermon sold 9,980 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 transaction of $44,610.60. Following the completion of the sale, the general counsel now owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Denise Scots-Knight sold 28,611 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction 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 approximately $3,884,282.49. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock worth $702,832 over the last quarter. Company insiders own 4.13% of the company’s stock.

Institutional Trading of Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in shares of 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. Advisors Preferred LLC bought a new position in shares of Mereo BioPharma Group in the first quarter worth about $28,000. SG Americas Securities LLC bought a new position in shares of Mereo BioPharma Group during the 1st quarter valued at approximately $54,000. BNP Paribas Financial Markets increased its holdings in Mereo BioPharma Group by 581,066.7% in the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after acquiring an additional 17,432 shares in the last quarter. Finally, Index Fund Advisors Inc. bought a new stake in shares of Mereo BioPharma Group during the 1st quarter valued at $99,000. 62.83% of the stock is 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.