Cantor Fitzgerald Reiterates Overweight Rating for Mereo BioPharma Group (NASDAQ:MREO)

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reiterated by stock analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $7.00 target price on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 75.44% from the company’s current price.

Separately, Needham & Company LLC lifted their price target on Mereo BioPharma Group from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $3.99 on Wednesday. The stock’s fifty day moving average price is $3.11 and its two-hundred day moving average price is $3.06. Mereo BioPharma Group has a one year low of $1.07 and a one year high of $4.36.

Mereo BioPharma Group (NASDAQ:MREO) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.01) EPS for the quarter. As a group, equities research analysts forecast that Mereo BioPharma Group will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Mereo BioPharma Group 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 transaction, the insider now directly owns 32,568 shares of the company’s stock, valued at approximately $96,726.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC acquired a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $28,000. SG Americas Securities LLC acquired a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $54,000. BNP Paribas Financial Markets lifted its stake in shares of 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 valued at $58,000 after purchasing an additional 17,432 shares during the period. Golden State Equity Partners lifted its stake in shares of Mereo BioPharma Group by 41.0% in the 4th quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock valued at $47,000 after purchasing an additional 5,900 shares during the period. Finally, Index Fund Advisors Inc. acquired a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $99,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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.