Mereo BioPharma Group’s (MREO) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $7.00 price target on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $7.50.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $3.53 on Tuesday. The business has a 50-day simple moving average of $4.25 and a two-hundred day simple moving average of $3.94. Mereo BioPharma Group has a 52 week low of $3.51 and a 52 week high of $5.02.

Insider Activity at Mereo BioPharma Group

In other Mereo BioPharma Group news, Director Deepika Pakianathan sold 105,244 shares of Mereo BioPharma Group stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $4.43, for a total value of $466,230.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Charles Sermon sold 9,980 shares of the firm’s 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 transaction, the general counsel now owns 240,007 shares of the company’s stock, valued at approximately $1,072,831.29. The trade was a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,175 shares of company stock valued at $702,832. 4.13% of the stock is owned by company insiders.

Institutional Trading of Mereo BioPharma Group

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Mereo BioPharma Group by 581,066.7% in the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after purchasing an additional 17,432 shares in the last quarter. SG Americas Securities LLC bought a new position in Mereo BioPharma Group during the first quarter valued at $54,000. Index Fund Advisors Inc. purchased a new position in shares of Mereo BioPharma Group in the 1st quarter worth $99,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Mereo BioPharma Group in the 1st quarter worth about $3,274,000. Finally, Knoll Capital Management LLC raised its position 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. Institutional investors own 62.83% of the company’s stock.

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.