Lifesci Capital Initiates Coverage on Mereo BioPharma Group (NASDAQ:MREO)

Lifesci Capital began coverage on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research note issued to investors on Tuesday,Benzinga reports. The firm issued an outperform rating and a $10.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 target price for the company. Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Four analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Mereo BioPharma Group has an average rating of “Buy” and a consensus target price of $7.83.

Mereo BioPharma Group Price Performance

MREO opened at $3.77 on Tuesday. Mereo BioPharma Group has a 12-month low of $3.11 and a 12-month high of $5.02. The firm has a 50 day moving average of $3.83 and a two-hundred day moving average of $4.01.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Mereo BioPharma Group by 70.9% in 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 in the last quarter. GAMMA Investing LLC increased its position in shares of Mereo BioPharma Group by 58.1% in 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 in the last quarter. State Street Corp acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $195,000. GSA Capital Partners LLP purchased a new position in shares of Mereo BioPharma Group during the 3rd quarter valued at approximately $276,000. Finally, Fred Alger Management LLC grew its stake in Mereo BioPharma Group by 108.1% in 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 during the period. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Company Profile

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.