Brokers Offer Predictions for MREO FY2024 Earnings

Mereo BioPharma Group plc (NASDAQ:MREO) – Stock analysts at Leerink Partnrs issued their FY2024 EPS estimates for Mereo BioPharma Group in a research report issued on Monday, November 18th. Leerink Partnrs analyst J. Schwartz anticipates that the company will post earnings of $0.06 per share for the year. Leerink Partnrs also issued estimates for Mereo BioPharma Group’s Q4 2024 earnings at $0.10 EPS and FY2025 earnings at $0.01 EPS.

A number of other brokerages also recently commented on MREO. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $7.50.

Mereo BioPharma Group Trading Up 2.8 %

Shares of MREO stock opened at $3.68 on Thursday. The firm has a fifty day moving average price of $4.17 and a 200 day moving average price of $3.95. Mereo BioPharma Group has a 12 month low of $3.17 and a 12 month high of $5.02.

Institutional Investors Weigh In On Mereo BioPharma Group

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Mereo BioPharma Group by 70.9% during the second quarter. Rhumbline Advisers now owns 6,958 shares of the company’s stock worth $25,000 after buying an additional 2,887 shares during the period. GAMMA Investing LLC boosted its stake 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 buying an additional 3,928 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Mereo BioPharma Group during the first quarter worth about $54,000. BNP Paribas Financial Markets boosted its stake in shares of Mereo BioPharma Group by 581,066.7% during the first quarter. BNP Paribas Financial Markets now owns 17,435 shares of the company’s stock worth $58,000 after buying an additional 17,432 shares during the period. Finally, State Street Corp acquired a new stake in shares of Mereo BioPharma Group during the third quarter worth about $195,000. Institutional investors and hedge funds own 62.83% of the company’s stock.

Insider Buying and Selling at Mereo BioPharma Group

In other Mereo BioPharma Group news, CFO Christine Ann Fox sold 9,128 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $4.47, for a total value of $40,802.16. Following the completion of the transaction, the chief financial officer now owns 108,443 shares in the company, valued at $484,740.21. This represents a 7.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Charles Sermon sold 9,980 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $4.47, for a total transaction of $44,610.60. Following the sale, the general counsel now owns 240,007 shares of the company’s stock, valued at $1,072,831.29. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,931 shares of company stock worth $236,602 over the last 90 days. Corporate insiders own 4.13% of the company’s stock.

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, 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.