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

Mereo BioPharma Group (NASDAQ:MREO) was upgraded by equities researchers at Lifesci Capital to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on MREO. Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective on the stock. Cantor Fitzgerald raised shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Sunday, December 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mereo BioPharma Group 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 Monday. The business’s 50 day simple moving average is $3.86 and its 200 day simple moving average is $4.02. Mereo BioPharma Group has a one year low of $3.11 and a one year high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of large investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. raised its holdings in shares of Mereo BioPharma Group by 15.8% during the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock valued at $20,952,000 after purchasing an additional 696,408 shares during the period. State Street Corp bought a new stake in Mereo BioPharma Group in the 3rd quarter valued at about $195,000. Polar Asset Management Partners Inc. raised its stake in Mereo BioPharma Group by 36.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock worth $815,000 after buying an additional 52,500 shares during the period. Janus Henderson Group PLC raised its stake 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 worth $50,865,000 after buying an additional 4,464,984 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in Mereo BioPharma Group by 108.1% in the third 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 in 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.