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

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $7.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 118.75% from the company’s previous close.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Mereo BioPharma Group in a research note on Thursday.

Mereo BioPharma Group Stock Down 2.1 %

Shares of MREO opened at $3.20 on Thursday. Mereo BioPharma Group has a fifty-two week low of $0.92 and a fifty-two week high of $4.36. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average price is $3.04 and its 200 day moving average price is $2.89.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MREO. Rubric Capital Management LP raised its holdings in shares of Mereo BioPharma Group by 16.7% in the 4th quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock valued at $31,307,000 after purchasing an additional 1,936,877 shares in the last quarter. Rock Springs Capital Management LP lifted its holdings in Mereo BioPharma Group by 9.0% during the 3rd quarter. Rock Springs Capital Management LP now owns 7,676,481 shares of the company’s stock worth $9,903,000 after buying an additional 634,090 shares during the last quarter. 683 Capital Management LLC boosted its position in shares of Mereo BioPharma Group by 11.1% during the 3rd quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company’s stock worth $7,740,000 after acquiring an additional 600,000 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Mereo BioPharma Group in the 1st quarter valued at about $16,949,000. Finally, Tejara Capital Ltd raised its position in shares of Mereo BioPharma Group by 5.8% during the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock worth $4,147,000 after acquiring an additional 177,030 shares in the last quarter. Hedge funds and other 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.