Mereo BioPharma Group plc (NASDAQ:MREO) Receives Consensus Recommendation of "Buy" from Analysts

Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) has earned an average rating of "Buy" from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.83.

MREO has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They set a "buy" rating and a $7.00 price objective for the company. Cantor Fitzgerald upgraded shares of Mereo BioPharma Group to a "strong-buy" rating in a research note on Sunday, December 8th. Finally, Lifesci Capital assumed coverage on shares of Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an "outperform" rating and a $10.00 price objective for the company.

Mereo BioPharma Group Stock Performance

MREO stock traded down $0.02 on Wednesday, hitting $2.86. 815,862 shares of the company were exchanged, compared to its average volume of 1,131,772. Mereo BioPharma Group has a twelve month low of $2.78 and a twelve month high of $5.02. The business's fifty day moving average is $3.23 and its two-hundred day moving average is $3.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Mereo BioPharma Group in the fourth quarter valued at $37,000. Jump Financial LLC purchased a new position in shares of Mereo BioPharma Group in the fourth quarter valued at $39,000. Sheets Smith Investment Management purchased a new position in shares of Mereo BioPharma Group in the fourth quarter valued at $59,000. Virtus ETF Advisers LLC purchased a new position in shares of Mereo BioPharma Group in the fourth quarter valued at $67,000. Finally, Avanza Fonder AB purchased a new position in shares of Mereo BioPharma Group in the fourth quarter valued at $69,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Company Profile

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.