Mereo BioPharma Group plc (NASDAQ:MREO) Given Consensus Rating of “Buy” by Analysts

Shares of Mereo BioPharma Group plc (NASDAQ:MREO) have been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $7.83.

A number of analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They set a “buy” rating and a $7.00 price target on the stock. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a “strong-buy” rating in a research report on Sunday, December 8th. Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a report on Monday, January 13th.

Institutional Trading of Mereo BioPharma Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MREO. State Street Corp acquired a new stake in shares of Mereo BioPharma Group during the third quarter valued at approximately $195,000. GSA Capital Partners LLP acquired a new stake in shares of Mereo BioPharma Group during the third quarter valued at approximately $276,000. Acuta Capital Partners LLC raised its holdings in shares of Mereo BioPharma Group by 86.2% during the third quarter. Acuta Capital Partners LLC now owns 1,260,700 shares of the company’s stock valued at $5,181,000 after acquiring an additional 583,700 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Mereo BioPharma Group by 56.7% during the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after acquiring an additional 4,464,984 shares during the period. Finally, 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 acquiring an additional 696,408 shares during the period. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Stock Performance

MREO stock opened at $2.52 on Wednesday. Mereo BioPharma Group has a 52 week low of $2.47 and a 52 week high of $5.02. The firm’s 50-day moving average is $3.18 and its two-hundred day moving average is $3.80.

Mereo BioPharma Group Company 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.