Mereo BioPharma Group (NASDAQ:MREO) Price Target Lowered to $5.00 at Needham & Company LLC

Mereo BioPharma Group (NASDAQ:MREO – Get Rating) had its price target lowered by Needham & Company LLC from $10.00 to $5.00 in a research note issued to investors on Monday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock.

Other analysts have also issued reports about the stock. SVB Leerink reiterated a “buy” rating and set a $8.00 target price on shares of Mereo BioPharma Group in a report on Friday, April 1st. Zacks Investment Research lowered shares of Mereo BioPharma Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, BTIG Research reiterated a “buy” rating and set a $8.00 target price on shares of Mereo BioPharma Group in a report on Friday, May 13th.

Shares of NASDAQ:MREO opened at $0.57 on Monday. The company has a quick ratio of 7.92, a current ratio of 7.92 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $0.71 and its 200-day moving average price is $1.18. Mereo BioPharma Group has a 12-month low of $0.30 and a 12-month high of $3.65.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rock Springs Capital Management LP lifted its holdings in shares of Mereo BioPharma Group by 8.8% during the first quarter. Rock Springs Capital Management LP now owns 6,074,943 shares of the company’s stock valued at $6,804,000 after purchasing an additional 489,322 shares during the last quarter. Clearline Capital LP grew its position in Mereo BioPharma Group by 89.7% in the 1st quarter. Clearline Capital LP now owns 1,301,783 shares of the company’s stock worth $1,458,000 after purchasing an additional 615,491 shares during the period. J. Goldman & Co LP grew its position in Mereo BioPharma Group by 221.6% in the 1st quarter. J. Goldman & Co LP now owns 217,051 shares of the company’s stock worth $243,000 after purchasing an additional 149,550 shares during the period. Eversept Partners LP boosted its stake in shares of Mereo BioPharma Group by 42.7% during the 1st quarter. Eversept Partners LP now owns 370,170 shares of the company’s stock worth $415,000 after acquiring an additional 110,700 shares during the last quarter. Finally, Maven Securities LTD boosted its stake in shares of Mereo BioPharma Group by 72.6% during the 1st quarter. Maven Securities LTD now owns 544,458 shares of the company’s stock worth $610,000 after acquiring an additional 229,001 shares during the last quarter. Institutional investors and hedge funds own 77.39% of the company’s stock.

About Mereo BioPharma Group (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.

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