Mereo BioPharma Group (NASDAQ:MREO) Coverage Initiated at Lifesci Capital

Analysts at Lifesci Capital initiated coverage on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research report issued on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $10.00 price target on the stock. Lifesci Capital’s target price would indicate a potential upside of 162.47% from the stock’s previous close.

Several other analysts also recently weighed in on MREO. Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a research report on Sunday, December 8th. Jefferies Financial Group assumed 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 target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Four investment 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 currently has an average rating of “Buy” and a consensus price target of $7.83.

Mereo BioPharma Group Stock Performance

Shares of MREO opened at $3.81 on Tuesday. The firm has a 50 day simple moving average of $3.86 and a two-hundred day simple moving average of $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

Several hedge funds have recently added to or reduced their stakes in MREO. Deerfield Management Company L.P. Series C bought a new position in Mereo BioPharma Group during the 2nd quarter worth $24,158,000. Janus Henderson Group PLC grew its position in shares of 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. Frazier Life Sciences Management L.P. acquired a new stake in Mereo BioPharma Group in the second quarter worth $15,845,000. Rubric Capital Management LP grew its stake in shares of Mereo BioPharma Group by 12.9% in the 2nd quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock valued at $55,106,000 after buying an additional 1,754,350 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in Mereo BioPharma Group in the 2nd quarter valued at about $4,512,000. 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.