Needham & Company LLC restated their buy rating on shares of Mereo BioPharma Group (NASDAQ:MREO – Get Rating) in a research report report published on Friday, Benzinga reports. Needham & Company LLC currently has a $5.00 price target on the stock.
Mereo BioPharma Group Stock Up 5.1 %
Mereo BioPharma Group stock opened at $1.04 on Friday. The stock’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $0.87. Mereo BioPharma Group has a fifty-two week low of $0.30 and a fifty-two week high of $1.85.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Mereo BioPharma Group during the 2nd quarter valued at about $25,000. Centiva Capital LP bought a new stake in Mereo BioPharma Group in the second quarter worth about $28,000. Virtu Financial LLC bought a new stake in Mereo BioPharma Group in the third quarter worth about $29,000. Envestnet Asset Management Inc. bought a new stake in Mereo BioPharma Group in the third quarter worth about $32,000. Finally, Barclays PLC raised its stake in shares of Mereo BioPharma Group by 97.4% during the third quarter. Barclays PLC now owns 39,470 shares of the company’s stock valued at $34,000 after acquiring an additional 19,470 shares in the last quarter.
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 tumor.
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