Mereo BioPharma Group Receives Upgrade to Strong-Buy Rating from Lifesci Capital

Mereo BioPharma Group (NASDAQ:MREO) has recently been upgraded by Lifesci Capital to a "strong-buy" rating in a report published on Monday, signaling a positive shift in investor outlook for the company.

Several other brokerages have also shared their insights regarding Mereo BioPharma Group's stock. For example, Needham & Company LLC reaffirmed a "buy" rating with a price target set at $7.00 for MREO shares in a report dated November 12. Similarly, Jefferies Financial Group initiated coverage of Mereo BioPharma Group on December 6, assigning a "buy" rating alongside the same price target of $7.00. Moreover, Cantor Fitzgerald upgraded the firm to a "strong-buy" rating in their research released on December 8.

In total, four investment analysts have given Mereo BioPharma a buy rating, while three have issued a strong buy rating. According to analysis from MarketBeat.com, the company currently holds an average rating of "Buy" with an estimated price target approximately valued at $7.83.

Mereo BioPharma Group Stock Performance

On Monday, Mereo BioPharma’s stock opened at $3.81. Over the past year, the stock has seen a low of $3.11 and a high of $5.02. The company's 50-day and 200-day simple moving averages are reported at $3.86 and $4.02, respectively.

Institutional Holdings

Recent adjustments by institutional investors have influenced the holdings in Mereo BioPharma Group. For instance, Frazier Life Sciences Management L.P. increased its stake by 15.8% in the third quarter, now holding 5,097,779 shares valued at approximately $20,952,000 following an acquisition of 696,408 shares. Other notable movements include State Street Corp, which acquired a new position worth around $195,000 during the same quarter. Additionally, Polar Asset Management Partners Inc. raised its stake by 36.0%, while Janus Henderson Group PLC boosted its holdings by 56.7% in that period. Notably, Fred Alger Management LLC grew its position by 108.1% in the third quarter, bringing its total to 102,582 shares valued at $422,000. Presently, institutional investors and hedge funds own approximately 62.83% of Mereo BioPharma’s stock.

About Mereo BioPharma Group

Mereo BioPharma Group plc is a biopharmaceutical company focused on developing and commercializing novel therapeutics to treat oncology and rare diseases. The company operates within the United Kingdom, the United States, and internationally. One of its key developments is Etigilimab (MPH-313), an antibody T-cell immunoreceptor that is currently undergoing a Phase 1b clinical trial targeting tumors.

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