Cantor Fitzgerald L. P. Makes New Investment in Mereo BioPharma Group plc (NASDAQ:MREO)

Cantor Fitzgerald L. P. bought a new stake in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 225,000 shares of the company's stock, valued at approximately $788,000. Cantor Fitzgerald L. P. owned about 0.15% of Mereo BioPharma Group as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. State Street Corp bought a new position in Mereo BioPharma Group during the third quarter valued at about $195,000. Avanza Fonder AB acquired a new stake in shares of Mereo BioPharma Group in the fourth quarter worth $69,000. PFG Investments LLC grew its stake in Mereo BioPharma Group by 132.0% in the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company's stock valued at $138,000 after buying an additional 22,433 shares during the last quarter. Golden State Equity Partners lifted its position in Mereo BioPharma Group by 247.7% during the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company's stock worth $79,000 after acquiring an additional 16,100 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Mereo BioPharma Group during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 62.83% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on MREO shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. initiated coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They set an "overweight" rating and a $7.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.71.

Mereo BioPharma Group Trading Down 0.4 %

NASDAQ:MREO traded down $0.01 during mid-day trading on Friday, hitting $2.41. The company's stock had a trading volume of 815,944 shares, compared to its average volume of 1,100,132. The stock has a fifty day moving average of $2.34 and a 200-day moving average of $3.04. The company has a market capitalization of $383.19 million, a price-to-earnings ratio of -40.17 and a beta of 0.53. Mereo BioPharma Group plc has a fifty-two week low of $1.58 and a fifty-two week high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). On average, equities analysts anticipate that Mereo BioPharma Group plc will post -0.03 earnings per share for the current fiscal year.

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.