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

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They presently have a $7.00 target price on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 105.28% from the company’s previous close.

Separately, Needham & Company LLC boosted their target price on shares of Mereo BioPharma Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday.

Mereo BioPharma Group Trading Up 13.7 %

Shares of NASDAQ MREO traded up $0.41 during trading on Thursday, reaching $3.41. 963,946 shares of the stock were exchanged, compared to its average volume of 1,776,956. The business’s 50-day moving average price is $3.55 and its 200 day moving average price is $2.50. Mereo BioPharma Group has a twelve month low of $0.69 and a twelve month high of $4.36.

Institutional Trading of Mereo BioPharma Group

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Mereo BioPharma Group during the second quarter valued at $25,000. Centiva Capital LP bought a new stake in Mereo BioPharma Group during the second quarter valued at $28,000. Envestnet Asset Management Inc. bought a new stake in Mereo BioPharma Group during the third quarter valued at $32,000. Sei Investments Co. bought a new stake in Mereo BioPharma Group during the first quarter valued at $42,000. Finally, UBS Group AG bought a new stake in Mereo BioPharma Group during the second quarter valued at $45,000. 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 and internationally. Its lead product candidate, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.