Mereo BioPharma Group (NASDAQ:MREO - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports. They presently have a $7.00 price target on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 194.12% from the company's previous close.
A number of other equities analysts also recently commented on MREO. Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a report on Friday, December 6th. They issued a "buy" rating and a $7.00 target price on the stock. Lifesci Capital began coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an "outperform" rating and a $10.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $7.83.
Read Our Latest Stock Report on Mereo BioPharma Group
Mereo BioPharma Group Stock Down 7.0 %
Shares of MREO traded down $0.18 during midday trading on Tuesday, reaching $2.38. The company had a trading volume of 1,043,861 shares, compared to its average volume of 1,006,758. Mereo BioPharma Group has a 1-year low of $2.25 and a 1-year high of $5.02. The firm has a 50 day simple moving average of $2.79 and a 200-day simple moving average of $3.56.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in MREO. GSA Capital Partners LLP purchased a new stake in shares of Mereo BioPharma Group in the 3rd quarter valued at $276,000. HealthInvest Partners AB purchased a new stake in Mereo BioPharma Group during the third quarter worth about $822,000. Acuta Capital Partners LLC lifted its position 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 worth $5,181,000 after purchasing an additional 583,700 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of Mereo BioPharma Group by 108.1% during the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company's stock worth $422,000 after purchasing an additional 53,278 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Mereo BioPharma Group by 56.7% in the third quarter. Janus Henderson Group PLC now owns 12,345,866 shares of the company's stock worth $50,865,000 after acquiring an additional 4,464,984 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.
About Mereo BioPharma Group
(
Get Free Report)
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.
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