Brokerages Set Mereo BioPharma Group plc (NASDAQ:MREO) PT at $7.83

Mereo BioPharma Group plc (NASDAQ:MREO) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.83.

Several equities research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, Lifesci Capital started coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 target price on the stock.

Hedge Funds Weigh In On Mereo BioPharma Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in Mereo BioPharma Group in the 3rd quarter valued at about $276,000. HealthInvest Partners AB purchased a new position in shares of Mereo BioPharma Group in the third quarter valued at approximately $822,000. Acuta Capital Partners LLC lifted its position in shares of Mereo BioPharma Group by 86.2% in 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 in the last quarter. Fred Alger Management LLC boosted its stake 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 acquiring an additional 53,278 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Mereo BioPharma Group by 56.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company’s stock valued at $50,865,000 after purchasing an additional 4,464,984 shares during the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $2.53 on Friday. Mereo BioPharma Group has a 52 week low of $2.25 and a 52 week high of $5.02. The stock’s 50-day moving average price is $2.86 and its 200-day moving average price is $3.59.

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.