Mereo BioPharma Group (NASDAQ:MREO) Given “Overweight” Rating at Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They currently have a $7.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 77.22% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Leerink Partners boosted their price objective 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. Baird R W upgraded Mereo BioPharma Group to a “strong-buy” rating in a report on Thursday, June 13th. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, August 13th. Finally, Robert W. Baird assumed coverage on shares of Mereo BioPharma Group in a research report on Thursday, June 13th. They set an “outperform” rating and a $8.00 target price on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mereo BioPharma Group presently has a consensus rating of “Buy” and a consensus target price of $7.50.

Mereo BioPharma Group Stock Down 12.2 %

NASDAQ MREO opened at $3.95 on Monday. The firm’s fifty day moving average price is $4.21 and its two-hundred day moving average price is $3.61. Mereo BioPharma Group has a fifty-two week low of $3.64 and a fifty-two week high of $5.02.

Insider Activity

In related news, General Counsel Charles Sermon sold 14,202 shares of Mereo BioPharma Group stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $3.69, for a total value of $52,405.38. Following the transaction, the general counsel now directly owns 216,574 shares of the company’s stock, valued at $799,158.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Charles Sermon sold 14,202 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $3.69, for a total transaction of $52,405.38. Following the completion of the sale, the general counsel now directly owns 216,574 shares in the company, valued at $799,158.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John A. Lewicki sold 7,416 shares of Mereo BioPharma Group 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 transaction, the insider now directly owns 65,587 shares of the company’s stock, valued at approximately $242,016.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 233,495 shares of company stock valued at $980,763. Company insiders own 4.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after purchasing an additional 2,887 shares during the period. Advisors Preferred LLC bought a new position in shares of Mereo BioPharma Group during the 1st quarter worth approximately $28,000. SG Americas Securities LLC bought a new position in shares of Mereo BioPharma Group during the 1st quarter worth approximately $54,000. BNP Paribas Financial Markets grew its position in shares of Mereo BioPharma Group by 581,066.7% during the 1st quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after buying an additional 17,432 shares during the period. Finally, Index Fund Advisors Inc. bought a new stake in shares of Mereo BioPharma Group in the 1st quarter valued at $99,000. 62.83% of the stock is owned by institutional investors and hedge funds.

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.