Lifesci Capital Initiates Coverage on Mereo BioPharma Group (NASDAQ:MREO)

Investment analysts at Lifesci Capital started coverage on shares of Mereo BioPharma Group (NASDAQ:MREO) in a research report issued on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $10.00 price target on the stock. Lifesci Capital’s price target indicates a potential upside of 194.99% from the stock’s current price.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald upgraded Mereo BioPharma Group to a “strong-buy” rating in a research note on Sunday, December 8th. 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 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $7.83.

Mereo BioPharma Group Trading Up 1.2 %

Shares of Mereo BioPharma Group stock opened at $3.39 on Tuesday. Mereo BioPharma Group has a 52-week low of $3.11 and a 52-week high of $5.02. The company has a 50 day moving average of $3.90 and a 200 day moving average of $4.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. acquired a new position in shares of Mereo BioPharma Group in the 2nd quarter valued at $15,845,000. Integral Health Asset Management LLC boosted its stake in shares of Mereo BioPharma Group by 86.8% during the second quarter. Integral Health Asset Management LLC now owns 1,775,000 shares of the company’s stock worth $6,390,000 after buying an additional 825,000 shares during the period. Rubric Capital Management LP grew its holdings in shares of Mereo BioPharma Group by 12.9% during the second quarter. Rubric Capital Management LP now owns 15,307,347 shares of the company’s stock worth $55,106,000 after buying an additional 1,754,350 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in Mereo BioPharma Group in the 2nd quarter valued at about $24,158,000. Finally, Millennium Management LLC increased its position in Mereo BioPharma Group by 46.9% in the 2nd quarter. Millennium Management LLC now owns 3,201,705 shares of the company’s stock valued at $11,526,000 after acquiring an additional 1,022,570 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.

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.