Mereo BioPharma Group’s (MREO) Overweight Rating Reiterated at Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $7.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 70.32% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Leerink Partners raised their price target on shares of Mereo BioPharma Group from $6.00 to $8.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Robert W. Baird started coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They issued an “outperform” rating and a $8.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, August 13th. Finally, Baird R W upgraded Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Stock Down 0.7 %

Shares of MREO opened at $4.11 on Tuesday. The stock’s 50-day moving average price is $4.24 and its two-hundred day moving average price is $3.65. Mereo BioPharma Group has a 12 month low of $3.64 and a 12 month high of $5.02.

Insider Transactions at Mereo BioPharma Group

In other news, General Counsel Charles Sermon sold 9,980 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $44,610.60. Following the completion of the transaction, the general counsel now directly owns 240,007 shares in the company, valued at $1,072,831.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mereo BioPharma Group news, General Counsel Charles Sermon sold 9,980 shares of Mereo BioPharma Group stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value 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 filing with the SEC, which can be accessed through the SEC website. Also, CFO Christine Ann Fox sold 9,128 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the completion of the transaction, the chief financial officer now owns 108,443 shares of the company’s stock, valued at approximately $484,740.21. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock valued at $702,832 in the last ninety days. 4.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in shares of Mereo BioPharma Group by 70.9% in the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after acquiring an additional 2,887 shares during the period. Advisors Preferred LLC purchased a new position in shares of Mereo BioPharma Group in the first quarter worth approximately $28,000. SG Americas Securities LLC purchased a new position in shares of Mereo BioPharma Group in the first quarter worth approximately $54,000. BNP Paribas Financial Markets grew its position in Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock valued at $58,000 after buying an additional 17,432 shares during the period. Finally, Index Fund Advisors Inc. purchased a new stake in Mereo BioPharma Group during the first quarter valued at approximately $99,000. Institutional investors own 62.83% of the company’s stock.

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.