Analysts Issue Forecasts for MREO FY2024 Earnings

Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) - Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Mereo BioPharma Group in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst K. Kluska anticipates that the company will post earnings of ($0.06) per share for the year. Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for Mereo BioPharma Group's current full-year earnings is ($0.02) per share.

A number of other research firms have also weighed in on MREO. Jefferies Financial Group started coverage on Mereo BioPharma Group in a research note on Friday, December 6th. They set a "buy" rating and a $7.00 price objective for the company. Lifesci Capital initiated coverage on shares of Mereo BioPharma Group in a research report on Tuesday, December 24th. They set an "outperform" rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC restated a "buy" rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a report on Monday, January 13th. Four investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.83.

Mereo BioPharma Group Trading Up 2.2 %

Shares of MREO traded up $0.07 during mid-day trading on Thursday, reaching $2.99. The company's stock had a trading volume of 799,342 shares, compared to its average volume of 1,434,754. The company's fifty day moving average price is $3.50 and its two-hundred day moving average price is $3.97. Mereo BioPharma Group has a 52 week low of $2.80 and a 52 week high of $5.02.

Institutional Trading of Mereo BioPharma Group

A number of institutional investors have recently bought and sold shares of MREO. Rhumbline Advisers increased its stake in Mereo BioPharma Group by 70.9% in the second quarter. Rhumbline Advisers now owns 6,958 shares of the company's stock worth $25,000 after purchasing an additional 2,887 shares during the period. GAMMA Investing LLC increased its position in shares of Mereo BioPharma Group by 58.1% during the third quarter. GAMMA Investing LLC now owns 10,693 shares of the company's stock worth $44,000 after acquiring an additional 3,928 shares during the period. Avanza Fonder AB bought a new stake in shares of Mereo BioPharma Group during the fourth quarter valued at approximately $69,000. PFG Investments LLC grew its stake in Mereo BioPharma Group by 132.0% in the fourth quarter. PFG Investments LLC now owns 39,433 shares of the company's stock worth $138,000 after purchasing an additional 22,433 shares in the last quarter. Finally, State Street Corp bought a new stake in shares of Mereo BioPharma Group in the third quarter valued at about $195,000. 62.83% of the stock is currently owned by institutional investors.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.