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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Mereo BioPharma Group (NASDAQ:MREOFree Report) in a research note issued to investors on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $7.00 price objective on the stock.

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

Check Out Our Latest Stock Report on Mereo BioPharma Group

Mereo BioPharma Group Price Performance

MREO stock opened at $3.20 on Thursday. The business has a fifty day moving average price of $3.04 and a 200 day moving average price of $2.90. 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.

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds have recently added to or reduced their stakes in the stock. Formidable Asset Management LLC acquired a new stake in shares of Mereo BioPharma Group in the 3rd quarter valued at $428,000. Tejara Capital Ltd boosted its holdings in shares of Mereo BioPharma Group by 5.8% in 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 in the last quarter. 683 Capital Management LLC boosted its holdings in shares of Mereo BioPharma Group by 11.1% in 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 in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Mereo BioPharma Group in the 3rd quarter valued at $1,032,000. Finally, Rock Springs Capital Management LP boosted its holdings in shares of 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 acquiring an additional 634,090 shares in the last quarter. Institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

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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.

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