Mereo BioPharma Group (NASDAQ:MREO) Price Target Cut to $5.00

Mereo BioPharma Group (NASDAQ:MREO – Get Rating) had its price target decreased by Needham & Company LLC from $10.00 to $5.00 in a report published on Monday morning, Stock Target Advisor reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Mereo BioPharma Group from a buy rating to a hold rating in a research report on Thursday. SVB Leerink reissued a buy rating and set a $8.00 price objective on shares of Mereo BioPharma Group in a report on Friday, April 1st. Finally, BTIG Research restated a buy rating and set a $8.00 target price on shares of Mereo BioPharma Group in a research report on Friday, May 13th.

Shares of Mereo BioPharma Group stock opened at $0.57 on Monday. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $0.71 and a 200-day simple moving average of $1.18. Mereo BioPharma Group has a 52-week low of $0.30 and a 52-week high of $3.65.

A number of large investors have recently modified their holdings of the stock. Morgan Stanley increased its holdings in Mereo BioPharma Group by 26.1% during the 2nd quarter. Morgan Stanley now owns 55,591 shares of the company’s stock valued at $177,000 after acquiring an additional 11,520 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of Mereo BioPharma Group during the fourth quarter valued at $25,000. Clear Harbor Asset Management LLC bought a new stake in Mereo BioPharma Group in the fourth quarter worth about $27,000. Oppenheimer & Co. Inc. acquired a new position in shares of Mereo BioPharma Group in the 3rd quarter valued at about $46,000. Finally, Bank of America Corp DE grew its stake in shares of Mereo BioPharma Group by 74.5% in the 4th quarter. Bank of America Corp DE now owns 71,282 shares of the company’s stock valued at $114,000 after buying an additional 30,442 shares in the last quarter. Hedge funds and other institutional investors own 77.39% of the company’s stock.

Mereo BioPharma Group Company Profile (Get Rating)

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.

Further Reading

• Get a free copy of the StockNews.com research report on Mereo BioPharma Group (MREO)
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