Mereo BioPharma Group plc (NASDAQ:MREO) Given Average Rating of “Buy” by Brokerages

Mereo BioPharma Group plc (NASDAQ:MREO) has been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.83.

Several research firms recently commented on MREO. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Monday, January 13th. Lifesci Capital started coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target for the company. Jefferies Financial Group started coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They set a “buy” rating and a $7.00 price target for the company. Finally, Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in Mereo BioPharma Group by 70.9% in the 2nd 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. Newbridge Financial Services Group Inc. purchased a new position in Mereo BioPharma Group in the 4th quarter worth approximately $37,000. GAMMA Investing LLC lifted its holdings in Mereo BioPharma Group by 58.1% in the 3rd quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after purchasing an additional 3,928 shares in the last quarter. Avanza Fonder AB purchased a new position in Mereo BioPharma Group in the 4th quarter worth approximately $69,000. Finally, Golden State Equity Partners lifted its holdings in Mereo BioPharma Group by 247.7% in the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company’s stock worth $79,000 after purchasing an additional 16,100 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Trading Up 2.1 %

NASDAQ MREO opened at $2.93 on Friday. Mereo BioPharma Group has a one year low of $2.80 and a one year high of $5.02. The stock has a 50-day moving average of $3.46 and a 200 day moving average of $3.94.

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.