Mereo BioPharma Group (NASDAQ:MREO) Raised to Strong-Buy at Lifesci Capital

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

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald raised Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Needham & Company LLC reiterated a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Finally, Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 price objective on the stock. Four research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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 company’s 50 day simple moving average is $3.86 and its 200-day simple moving average is $4.02.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MREO. Frazier Life Sciences Management L.P. increased its holdings in Mereo BioPharma Group by 15.8% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock worth $20,952,000 after purchasing an additional 696,408 shares during the last quarter. State Street Corp acquired a new stake in shares of Mereo BioPharma Group during the third quarter worth approximately $195,000. Polar Asset Management Partners Inc. boosted its stake in Mereo BioPharma Group by 36.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock valued at $815,000 after acquiring an additional 52,500 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Mereo BioPharma Group by 56.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock worth $50,865,000 after purchasing an additional 4,464,984 shares during the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Mereo BioPharma Group by 108.1% during the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after purchasing an additional 53,278 shares during the last quarter. Institutional investors and hedge funds 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.