Mereo BioPharma Group (NASDAQ:MREO) Now Covered by Analysts at Lifesci Capital

Investment analysts at 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 set an “outperform” rating and a $10.00 price target on the stock. Lifesci Capital’s price objective points to a potential upside of 162.47% from the stock’s previous close.

A number of other brokerages have also commented on MREO. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th. 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 currently has a consensus rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Trading Up 12.4 %

Shares of MREO stock opened at $3.81 on Tuesday. Mereo BioPharma Group has a one year low of $3.11 and a one year high of $5.02. The firm has a 50-day moving average of $3.86 and a 200-day moving average of $4.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in shares of 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 buying an additional 2,887 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after acquiring an additional 3,928 shares in the last quarter. State Street Corp purchased a new position in shares of Mereo BioPharma Group in the third quarter valued at $195,000. GSA Capital Partners LLP bought a new stake in shares of Mereo BioPharma Group during the third quarter valued at about $276,000. Finally, Fred Alger Management LLC increased its holdings 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 worth $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.

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.