Mereo BioPharma Group (NASDAQ:MREO) Upgraded at Lifesci Capital

Lifesci Capital upgraded shares of Mereo BioPharma Group (NASDAQ:MREO) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

MREO has been the subject of a number of other research reports. Jefferies Financial Group began coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $7.00 target price on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald raised shares of Mereo BioPharma Group to a “strong-buy” rating in a report on Sunday, December 8th. Four investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Mereo BioPharma Group currently has a consensus rating of “Buy” and a consensus target price of $7.83.

Mereo BioPharma Group Trading Up 12.4 %

NASDAQ:MREO opened at $3.81 on Monday. Mereo BioPharma Group has a 52 week low of $3.11 and a 52 week high of $5.02. The company’s 50 day moving average price is $3.86 and its 200-day moving average price is $4.02.

Institutional Investors Weigh In On Mereo BioPharma Group

A number of large investors have recently made changes to their positions in MREO. Frazier Life Sciences Management L.P. boosted its holdings in shares of Mereo BioPharma Group by 15.8% in the third quarter. Frazier Life Sciences Management L.P. now owns 5,097,779 shares of the company’s stock worth $20,952,000 after buying an additional 696,408 shares during the last quarter. State Street Corp bought a new position in Mereo BioPharma Group in the third quarter worth approximately $195,000. Polar Asset Management Partners Inc. boosted its stake 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 acquiring an additional 52,500 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of 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 valued at $50,865,000 after acquiring an additional 4,464,984 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Mereo BioPharma Group by 108.1% in the 3rd quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock worth $422,000 after purchasing an additional 53,278 shares in the last quarter. 62.83% of the stock is currently 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.