Sheets Smith Investment Management Invests $59,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

Sheets Smith Investment Management acquired a new stake in shares of Mereo BioPharma Group plc (NASDAQ:MREO) during the 4th quarter, Holdings Channel.com reports. The firm acquired 16,890 shares of the company’s stock, valued at approximately $59,000.

Several other institutional investors have also modified their holdings of MREO. Newbridge Financial Services Group Inc. bought a new position in shares of Mereo BioPharma Group during the 4th quarter valued at about $37,000. Avanza Fonder AB bought a new position in shares of Mereo BioPharma Group during the 4th quarter valued at about $69,000. Golden State Equity Partners lifted its holdings in shares of Mereo BioPharma Group by 247.7% during the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock valued at $79,000 after purchasing an additional 16,100 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Mereo BioPharma Group by 132.0% during the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company’s stock valued at $138,000 after purchasing an additional 22,433 shares in the last quarter. Finally, State Street Corp bought a new position in shares of Mereo BioPharma Group during the 3rd quarter valued at about $195,000. Institutional investors own 62.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MREO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Needham & Company LLC reissued a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Jefferies Financial Group started coverage on Mereo BioPharma Group in a research report on Friday, December 6th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Lifesci Capital started coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $7.83.

Mereo BioPharma Group Stock Down 7.0 %

NASDAQ:MREO opened at $2.38 on Monday. Mereo BioPharma Group plc has a twelve month low of $2.25 and a twelve month high of $5.02. The stock’s 50 day moving average price is $2.79 and its two-hundred day moving average price is $3.55.

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.