FY2024 Earnings Forecast for Mereo BioPharma Group plc (NASDAQ:MREO) Issued By Cantor Fitzgerald

Mereo BioPharma Group plc (NASDAQ:MREO) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings estimates for Mereo BioPharma Group in a report released on Wednesday, April 17th. Cantor Fitzgerald analyst K. Kluska now expects that the company will post earnings per share of ($0.05) for the year, up from their previous forecast of ($0.06). Cantor Fitzgerald has a “Overweight” rating and a $7.00 price objective on the stock. The consensus estimate for Mereo BioPharma Group’s current full-year earnings is $0.03 per share.

Separately, Needham & Company LLC reissued a “buy” rating and set a $6.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday, April 10th.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ:MREO opened at $2.79 on Monday. Mereo BioPharma Group has a 52-week low of $0.92 and a 52-week high of $4.36. The company has a quick ratio of 6.72, a current ratio of 6.72 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $3.30 and a two-hundred day moving average of $2.72.

Institutional Trading of Mereo BioPharma Group

A number of hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP grew its position in shares of Mereo BioPharma Group by 16.7% during the fourth quarter. Rubric Capital Management LP now owns 13,552,997 shares of the company’s stock worth $31,307,000 after buying an additional 1,936,877 shares in the last quarter. Rock Springs Capital Management LP lifted its stake in Mereo BioPharma Group by 9.0% during the third quarter. Rock Springs Capital Management LP now owns 7,676,481 shares of the company’s stock worth $9,903,000 after purchasing an additional 634,090 shares during the last quarter. 683 Capital Management LLC lifted its stake in Mereo BioPharma Group by 11.1% during the third quarter. 683 Capital Management LLC now owns 6,000,000 shares of the company’s stock worth $7,740,000 after purchasing an additional 600,000 shares during the last quarter. Tejara Capital Ltd lifted its stake in Mereo BioPharma Group by 5.8% during the third quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock worth $4,147,000 after purchasing an additional 177,030 shares during the last quarter. Finally, abrdn plc bought a new position in Mereo BioPharma Group during the fourth quarter worth $3,583,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.