Mereo BioPharma Group (NASDAQ:MREO) Price Target Raised to $6.00

Mereo BioPharma Group (NASDAQ:MREO) had its price objective lifted by equities research analysts at Needham & Company LLC from $5.00 to $6.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 100.00% from the company’s current price.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Mereo BioPharma Group in a research note on Friday, March 22nd.

Mereo BioPharma Group Price Performance

Shares of NASDAQ:MREO opened at $3.00 on Thursday. The company’s 50-day moving average price is $3.55 and its two-hundred day moving average price is $2.50. Mereo BioPharma Group has a one year low of $0.69 and a one year high of $4.36.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in shares of Mereo BioPharma Group during the second quarter worth approximately $25,000. Centiva Capital LP bought a new position in Mereo BioPharma Group in the second quarter valued at approximately $28,000. Envestnet Asset Management Inc. bought a new position in Mereo BioPharma Group in the third quarter valued at approximately $32,000. Sei Investments Co. bought a new position in Mereo BioPharma Group in the first quarter valued at approximately $42,000. Finally, UBS Group AG bought a new stake in shares of Mereo BioPharma Group during the second quarter worth $45,000. 62.83% of the stock is owned by institutional investors.

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 and internationally. Its lead product candidate, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.