Mereo BioPharma Group (NASDAQ:MREO) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO) in a report issued on Tuesday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research note on Tuesday, October 1st. Four 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.com, the stock has an average rating of “Buy” and an average price target of $7.50.

Mereo BioPharma Group Stock Performance

MREO opened at $4.10 on Tuesday. The stock’s fifty day moving average is $4.29 and its two-hundred day moving average is $3.92. Mereo BioPharma Group has a 52 week low of $3.64 and a 52 week high of $5.02.

Insiders Place Their Bets

In other news, CFO Christine Ann Fox sold 9,128 shares of Mereo BioPharma Group stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $4.47, for a total value of $40,802.16. Following the transaction, the chief financial officer now directly owns 108,443 shares in the company, valued at approximately $484,740.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Christine Ann Fox sold 9,128 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $40,802.16. Following the sale, the chief financial officer now owns 108,443 shares of the company’s stock, valued at $484,740.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Charles Sermon sold 9,980 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $44,610.60. Following the completion of the transaction, the general counsel now owns 240,007 shares of the company’s stock, valued at $1,072,831.29. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,175 shares of company stock worth $702,832 over the last 90 days. Company insiders own 4.13% of the company’s stock.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Mereo BioPharma Group by 70.9% during the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after purchasing an additional 2,887 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Mereo BioPharma Group by 58.1% in the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after acquiring an additional 3,928 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Mereo BioPharma Group in the first quarter worth about $54,000. BNP Paribas Financial Markets grew its stake in shares of Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after acquiring an additional 17,432 shares during the last quarter. Finally, Index Fund Advisors Inc. acquired a new position in shares of Mereo BioPharma Group during the first quarter valued at about $99,000. 62.83% of the stock is currently 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.