State Street Corp Invests $195,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

State Street Corp acquired a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 47,561 shares of the company’s stock, valued at approximately $195,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MREO. Rubric Capital Management LP grew its holdings in Mereo BioPharma Group by 12.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock valued at $55,106,000 after buying an additional 1,754,350 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Mereo BioPharma Group by 56.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after buying an additional 4,464,984 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Mereo BioPharma Group during the 2nd quarter valued at $24,158,000. Frazier Life Sciences Management L.P. acquired a new stake in Mereo BioPharma Group during the 2nd quarter valued at $15,845,000. Finally, Millennium Management LLC grew its holdings in Mereo BioPharma Group by 46.9% during the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after buying an additional 1,022,570 shares during the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MREO. Jefferies Financial Group began coverage on Mereo BioPharma Group in a report on Friday, December 6th. They set a “buy” rating and a $7.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Lifesci Capital assumed coverage on Mereo BioPharma Group in a report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price objective on the stock. Finally, Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Four analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $7.83.

Mereo BioPharma Group Stock Performance

MREO stock opened at $3.73 on Friday. Mereo BioPharma Group plc has a 52-week low of $3.11 and a 52-week high of $5.02. The stock’s fifty day simple moving average is $3.73 and its 200-day simple moving average is $4.00.

Mereo BioPharma Group 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.