Mereo BioPharma Group (NASDAQ:MREO) Upgraded by Lifesci Capital to “Strong-Buy” Rating

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by analysts at Lifesci Capital to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on MREO. Cantor Fitzgerald raised Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Jefferies Financial Group began coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $3.81 on Monday. Mereo BioPharma Group has a 12 month low of $3.11 and a 12 month high of $5.02. The stock has a fifty day moving average price of $3.86 and a 200 day moving average price of $4.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in 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 period. GAMMA Investing LLC raised its position in Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after buying an additional 3,928 shares during the period. State Street Corp purchased a new stake in Mereo BioPharma Group in the 3rd quarter worth about $195,000. GSA Capital Partners LLP acquired a new stake in Mereo BioPharma Group during the 3rd quarter worth about $276,000. Finally, Fred Alger Management LLC grew its stake in Mereo BioPharma Group by 108.1% during the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after acquiring an additional 53,278 shares in the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.