State Street Corp Invests $195,000 in Mereo BioPharma Group plc (NASDAQ:MREO)

State Street Corp bought a new position in shares of Mereo BioPharma Group plc (NASDAQ:MREO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,561 shares of the company’s stock, valued at approximately $195,000.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after buying an additional 2,887 shares during the period. GAMMA Investing LLC boosted its stake in shares of Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company’s stock worth $44,000 after buying an additional 3,928 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Mereo BioPharma Group during the third quarter worth about $276,000. Fred Alger Management LLC lifted its position in Mereo BioPharma Group by 108.1% in the third quarter. Fred Alger Management LLC now owns 102,582 shares of the company’s stock valued at $422,000 after purchasing an additional 53,278 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its position in Mereo BioPharma Group by 36.0% in the third quarter. Polar Asset Management Partners Inc. now owns 198,300 shares of the company’s stock valued at $815,000 after purchasing an additional 52,500 shares during the period. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Trading Up 9.1 %

MREO stock opened at $3.73 on Friday. The firm has a 50 day moving average of $3.73 and a 200-day moving average of $4.00. Mereo BioPharma Group plc has a 12-month low of $3.11 and a 12-month high of $5.02.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Lifesci Capital assumed coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Mereo BioPharma Group in a research report on Friday, December 6th. They issued 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 report on Sunday, December 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $7.83.

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.