Mereo BioPharma Group (NASDAQ:MREO) Upgraded to “Strong-Buy” at Lifesci Capital

Lifesci Capital upgraded shares of Mereo BioPharma Group (NASDAQ:MREO) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Several other analysts have also commented on the stock. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group started coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $7.83.

Mereo BioPharma Group Stock Up 12.4 %

NASDAQ:MREO opened at $3.81 on Monday. Mereo BioPharma Group has a 12 month low of $3.11 and a 12 month high of $5.02. The company has a 50-day moving average price of $3.86 and a 200-day moving average price of $4.02.

Institutional Trading of Mereo BioPharma Group

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of Mereo BioPharma Group by 70.9% in the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after buying an additional 2,887 shares in the last quarter. GAMMA Investing LLC raised its holdings in Mereo BioPharma Group by 58.1% in the 3rd quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after acquiring an additional 3,928 shares during the last quarter. State Street Corp bought a new position in Mereo BioPharma Group in the 3rd quarter valued at approximately $195,000. GSA Capital Partners LLP purchased a new stake in Mereo BioPharma Group during the 3rd quarter valued at $276,000. Finally, Fred Alger Management LLC increased its holdings in shares of Mereo BioPharma Group by 108.1% in the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after purchasing an additional 53,278 shares in the last quarter. 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.