Mereo BioPharma Group (NASDAQ:MREO) Rating Reiterated by Cantor Fitzgerald

Mereo BioPharma Group (NASDAQ:MREOGet Free Report)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research note issued on Thursday, Benzinga reports. They presently have a $7.00 target price on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 112.12% from the stock’s current price.

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

View Our Latest Research Report on MREO

Mereo BioPharma Group Stock Up 10.0 %

Shares of MREO stock opened at $3.30 on Thursday. Mereo BioPharma Group has a 12-month low of $0.69 and a 12-month high of $4.36. The business has a 50-day moving average price of $3.55 and a two-hundred day moving average price of $2.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rubric Capital Management LP raised its position in Mereo BioPharma Group by 16.7% during 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 during the last quarter. Rock Springs Capital Management LP raised its position 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 valued at $9,903,000 after purchasing an additional 634,090 shares during the last quarter. 683 Capital Management LLC raised its position in 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 valued at $7,740,000 after purchasing an additional 600,000 shares during the last quarter. Mangrove Partners bought a new position in Mereo BioPharma Group during the 2nd quarter valued at approximately $7,302,000. Finally, Tejara Capital Ltd raised its position in Mereo BioPharma Group by 5.8% during the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock valued at $4,147,000 after purchasing an additional 177,030 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Company Profile

(Get Free Report)

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.

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