Shares of Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) saw an uptick in trading volume on Wednesday . 692,097 shares changed hands during mid-day trading, a decline of 15% from the previous session's volume of 809,937 shares.The stock last traded at $3.62 and had previously closed at $3.40.
Analysts Set New Price Targets
Several analysts recently weighed in on MREO shares. Needham & Company LLC restated a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Cantor Fitzgerald raised Mereo BioPharma Group to a "strong-buy" rating in a research report on Sunday, December 8th. Finally, Jefferies Financial Group began 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 objective on the stock. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $7.40.
Check Out Our Latest Analysis on Mereo BioPharma Group
Mereo BioPharma Group Stock Down 2.6 %
The firm has a fifty day simple moving average of $3.95 and a 200 day simple moving average of $4.02.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in Mereo BioPharma Group by 70.9% in the second quarter. Rhumbline Advisers now owns 6,958 shares of the company's stock worth $25,000 after purchasing an additional 2,887 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Mereo BioPharma Group by 58.1% in 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 period. State Street Corp acquired a new position in shares of Mereo BioPharma Group in the 3rd quarter worth approximately $195,000. Polar Asset Management Partners Inc. lifted its position in shares of Mereo BioPharma Group by 36.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company's stock worth $815,000 after buying an additional 52,500 shares during the period. Finally, Fred Alger Management LLC boosted its stake in Mereo BioPharma Group by 108.1% in the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company's stock valued at $422,000 after buying an additional 53,278 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.
Mereo BioPharma Group Company Profile
(
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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