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 report report published on Tuesday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

A number of other research firms have also recently issued reports on MREO. Lifesci Capital began coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Monday, January 13th. Finally, Jefferies Financial Group began coverage on Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.83.

Mereo BioPharma Group Stock Performance

MREO opened at $2.56 on Tuesday. The business has a fifty day moving average of $2.81 and a 200 day moving average of $3.58. Mereo BioPharma Group has a 52-week low of $2.25 and a 52-week high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Several hedge funds have recently made changes to their positions in MREO. GSA Capital Partners LLP purchased a new stake in shares of Mereo BioPharma Group in the 3rd quarter worth $276,000. HealthInvest Partners AB purchased a new stake in shares of Mereo BioPharma Group in the 3rd quarter worth $822,000. Acuta Capital Partners LLC lifted its holdings in shares of Mereo BioPharma Group by 86.2% in the 3rd quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock worth $5,181,000 after buying an additional 583,700 shares during the period. Fred Alger Management LLC raised its position in shares of 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 acquiring an additional 53,278 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Mereo BioPharma Group by 56.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock worth $50,865,000 after acquiring an additional 4,464,984 shares in the last quarter. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Company Profile

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.