Mereo BioPharma Group (NASDAQ:MREO) Stock Rating Upgraded by Lifesci Capital

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) was upgraded by equities researchers at Lifesci Capital to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

MREO has been the topic of a number of other reports. Cantor Fitzgerald raised shares of Mereo BioPharma Group to a "strong-buy" rating in a research report on Sunday, December 8th. Jefferies Financial Group initiated coverage on Mereo BioPharma Group in a report on Friday, December 6th. They set a "buy" rating and a $7.00 price objective for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Four analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of "Buy" and an average price target of $7.83.

Mereo BioPharma Group Stock Up 12.4 %

MREO traded up $0.42 during trading on Monday, reaching $3.81. The company had a trading volume of 1,476,051 shares, compared to its average volume of 838,279. The business has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $4.02. Mereo BioPharma Group has a 52 week low of $3.11 and a 52 week high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP increased its stake in shares of Mereo BioPharma Group by 12.9% during the second 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. Janus Henderson Group PLC grew its holdings in 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 acquiring an additional 4,464,984 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in Mereo BioPharma Group during the 2nd quarter valued at about $24,158,000. Frazier Life Sciences Management L.P. raised its holdings in shares of Mereo BioPharma Group by 15.8% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company's stock valued at $20,952,000 after purchasing an additional 696,408 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Mereo BioPharma Group by 46.9% in the 2nd 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.