Mereo BioPharma Group (NASDAQ:MREO) Earns “Overweight” Rating from Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They currently have a $7.00 price objective on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 59.82% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Robert W. Baird began 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. Baird R W raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Thursday, June 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. 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 research report on Thursday, June 20th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Trading Up 2.3 %

NASDAQ MREO traded up $0.10 during mid-day trading on Monday, hitting $4.38. The company’s stock had a trading volume of 280,154 shares, compared to its average volume of 878,915. Mereo BioPharma Group has a 52-week low of $3.64 and a 52-week high of $5.02. The stock’s fifty day simple moving average is $4.19 and its two-hundred day simple moving average is $3.60.

Insider Transactions at Mereo BioPharma Group

In related news, Director Deepika Pakianathan sold 105,244 shares of Mereo BioPharma Group stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $4.43, for a total value of $466,230.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mereo BioPharma Group news, Director Deepika Pakianathan sold 105,244 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total transaction of $466,230.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John A. Lewicki sold 7,416 shares of the stock in a transaction 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 sale, the insider now directly owns 65,587 shares in the company, valued at $242,016.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,564 shares of company stock valued at $744,162. Insiders own 4.13% of the company’s stock.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP grew its stake in Mereo BioPharma Group by 12.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after buying an additional 1,754,350 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Mereo BioPharma Group during the second quarter worth approximately $24,158,000. Janus Henderson Group PLC bought a new position in Mereo BioPharma Group during the 1st quarter valued at $16,949,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Mereo BioPharma Group during the 2nd quarter valued at $15,845,000. Finally, Millennium Management LLC raised its stake in shares of Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock worth $11,526,000 after buying an additional 1,022,570 shares in the last quarter. 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.