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 research report released on Monday,Zacks.com reports.

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

Mereo BioPharma Group Trading Up 12.4 %

Shares of MREO opened at $3.81 on Monday. The firm has a fifty day simple moving average of $3.86 and a two-hundred day simple moving average of $4.02. Mereo BioPharma Group has a 1-year low of $3.11 and a 1-year high of $5.02.

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds have recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in Mereo BioPharma Group by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock valued at $25,000 after acquiring an additional 2,887 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Mereo BioPharma Group by 58.1% during the 3rd quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock valued at $44,000 after purchasing an additional 3,928 shares during the last quarter. State Street Corp purchased a new position in shares of Mereo BioPharma Group during the third quarter valued at about $195,000. GSA Capital Partners LLP bought a new stake in shares of Mereo BioPharma Group in the third quarter worth about $276,000. Finally, Fred Alger Management LLC lifted its position in shares of 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 buying an additional 53,278 shares in the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.