Mereo BioPharma Group plc (NASDAQ:MREO) Receives Average Recommendation of "Buy" from Brokerages

Shares of Mereo BioPharma Group plc (NASDAQ:MREO - Get Free Report) have received an average rating of "Buy" from the seven research firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.83.

A number of research analysts have issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday. Lifesci Capital initiated coverage on Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an "outperform" rating and a $10.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Monday, January 13th. Finally, Jefferies Financial Group initiated 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 for the company.

Institutional Trading of Mereo BioPharma Group

A number of large investors have recently made changes to their positions in the stock. Graham Capital Management L.P. boosted its holdings in Mereo BioPharma Group by 74.7% in the fourth quarter. Graham Capital Management L.P. now owns 22,189 shares of the company's stock worth $78,000 after purchasing an additional 9,490 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth $37,000. Jump Financial LLC purchased a new position in shares of Mereo BioPharma Group in the 4th quarter worth $39,000. Golden State Equity Partners grew its holdings in shares of Mereo BioPharma Group by 247.7% in the fourth quarter. Golden State Equity Partners now owns 22,600 shares of the company's stock worth $79,000 after acquiring an additional 16,100 shares during the period. Finally, Sheets Smith Investment Management purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at $59,000. 62.83% of the stock is currently owned by institutional investors.

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Mereo BioPharma Group Price Performance

Shares of NASDAQ MREO traded up $0.06 on Friday, reaching $2.59. 472,760 shares of the company's stock traded hands, compared to its average volume of 1,005,308. The business's 50 day simple moving average is $2.86 and its two-hundred day simple moving average is $3.59. Mereo BioPharma Group has a 12 month low of $2.25 and a 12 month high of $5.02.

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.