Lifesci Capital Begins Coverage on Mereo BioPharma Group (NASDAQ:MREO)

Stock analysts at Lifesci Capital initiated coverage on shares of Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) in a note issued to investors on Tuesday,Benzinga reports. The brokerage set an "outperform" rating and a $10.00 price target on the stock. Lifesci Capital's price objective would suggest a potential upside of 162.47% from the stock's current price.

A number of other brokerages have also weighed in on MREO. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a "strong-buy" rating in a research report on Sunday, December 8th. Needham & Company LLC reissued a "buy" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday, November 12th. Finally, Jefferies Financial Group initiated 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. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.83.

Mereo BioPharma Group Stock Performance

NASDAQ:MREO traded up $0.42 during trading hours on Tuesday, hitting $3.81. The company's stock had a trading volume of 1,476,051 shares, compared to its average volume of 838,279. Mereo BioPharma Group has a twelve month low of $3.11 and a twelve month high of $5.02. The stock has a fifty day simple moving average of $3.88 and a 200-day simple moving average of $4.01.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. acquired a new position in Mereo BioPharma Group in the second quarter valued at $15,845,000. Integral Health Asset Management LLC raised its position in shares of Mereo BioPharma Group by 86.8% in the 2nd quarter. Integral Health Asset Management LLC now owns 1,775,000 shares of the company's stock worth $6,390,000 after acquiring an additional 825,000 shares in the last quarter. Rubric Capital Management LP lifted 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 purchasing an additional 1,754,350 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at about $24,158,000. Finally, Millennium Management LLC grew its stake in Mereo BioPharma Group by 46.9% during the second quarter. Millennium Management LLC now owns 3,201,705 shares of the company's stock worth $11,526,000 after purchasing an additional 1,022,570 shares during the period. 62.83% of the stock is owned by institutional investors.

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.