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

Cantor Fitzgerald reissued their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a report issued on Tuesday morning,Benzinga reports. Cantor Fitzgerald currently has a $7.00 price objective on the stock.

A number of other brokerages also recently issued reports on MREO. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Lifesci Capital assumed coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price target for the company. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Trading Down 3.8 %

NASDAQ MREO opened at $2.53 on Tuesday. Mereo BioPharma Group has a 52 week low of $2.25 and a 52 week high of $5.02. The company has a 50 day moving average price of $2.86 and a 200 day moving average price of $3.59.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently modified their holdings of the company. Graham Capital Management L.P. boosted its holdings in Mereo BioPharma Group by 74.7% in the fourth quarter. Graham Capital Management L.P. now owns 22,189 shares of the company’s stock valued at $78,000 after purchasing an additional 9,490 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter worth approximately $37,000. Jump Financial LLC purchased a new position in shares of Mereo BioPharma Group during the 4th quarter valued at approximately $39,000. Golden State Equity Partners lifted its stake in shares of Mereo BioPharma Group by 247.7% in the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock valued at $79,000 after purchasing an additional 16,100 shares during the period. Finally, Sheets Smith Investment Management purchased a new stake in Mereo BioPharma Group during the fourth quarter worth $59,000. Institutional investors and hedge funds 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.