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

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

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

Mereo BioPharma Group Stock Performance

Shares of MREO stock opened at $3.81 on Tuesday. Mereo BioPharma Group has a twelve month low of $3.11 and a twelve month high of $5.02. The stock’s fifty day simple moving average is $3.88 and its 200 day simple moving average is $4.01.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of large investors have recently bought and sold shares of the stock. 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 worth $25,000 after buying an additional 2,887 shares during the period. GAMMA Investing LLC raised its holdings in 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 buying an additional 3,928 shares during the last quarter. State Street Corp acquired a new position in shares of Mereo BioPharma Group during the third quarter valued at about $195,000. Polar Asset Management Partners Inc. raised its holdings in shares of Mereo BioPharma Group by 36.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock worth $815,000 after acquiring an additional 52,500 shares during the last quarter. Finally, Fred Alger Management LLC boosted 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 purchasing an additional 53,278 shares during the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

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.