Mereo BioPharma Group (NASDAQ:MREO) Receives Overweight Rating from Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They currently have a $7.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 166.16% from the company’s current price.

Other analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Jefferies Financial Group started coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Lifesci Capital initiated coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target for the company. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $7.83.

Mereo BioPharma Group Stock Up 0.4 %

Shares of NASDAQ:MREO opened at $2.63 on Tuesday. Mereo BioPharma Group has a 1 year low of $2.25 and a 1 year high of $5.02. The stock’s fifty day moving average price is $2.88 and its 200-day moving average price is $3.61.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors have recently modified their holdings of MREO. GSA Capital Partners LLP bought a new stake in shares of Mereo BioPharma Group in the 3rd quarter valued at approximately $276,000. HealthInvest Partners AB purchased a new stake in shares of Mereo BioPharma Group in the third quarter worth approximately $822,000. Acuta Capital Partners LLC raised its holdings in shares of Mereo BioPharma Group by 86.2% in the third quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock worth $5,181,000 after buying an additional 583,700 shares during the period. Fred Alger Management LLC raised its holdings in shares of Mereo BioPharma Group by 108.1% in the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after buying an additional 53,278 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Mereo BioPharma Group by 56.7% in the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock worth $50,865,000 after buying an additional 4,464,984 shares during the period. 62.83% of the stock is owned by institutional investors.

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.