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

Mereo BioPharma Group plc (NASDAQ:MREO) has earned a consensus rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.83.

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

Institutional Investors Weigh In On Mereo BioPharma Group

Several large investors have recently bought and sold shares of MREO. Newbridge Financial Services Group Inc. bought a new stake in shares of Mereo BioPharma Group in the 4th quarter worth about $37,000. Jump Financial LLC purchased a new stake in Mereo BioPharma Group during the fourth quarter valued at approximately $39,000. Sheets Smith Investment Management bought a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $59,000. Virtus ETF Advisers LLC bought a new position in shares of Mereo BioPharma Group during the 4th quarter valued at approximately $67,000. Finally, Avanza Fonder AB purchased a new stake in Mereo BioPharma Group during the 4th quarter valued at $69,000. Institutional investors own 62.83% of the company’s stock.

Mereo BioPharma Group Stock Performance

Mereo BioPharma Group stock opened at $2.89 on Wednesday. The stock’s 50 day moving average is $3.29 and its 200 day moving average is $3.84. Mereo BioPharma Group has a twelve month low of $2.80 and a twelve month high of $5.02.

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.