FY2023 EPS Estimates for Mereo BioPharma Group plc Lifted by Cantor Fitzgerald (NASDAQ:MREO)

Mereo BioPharma Group plc (NASDAQ:MREOFree Report) – Cantor Fitzgerald increased their FY2023 earnings per share (EPS) estimates for Mereo BioPharma Group in a research report issued to clients and investors on Wednesday, February 7th. Cantor Fitzgerald analyst K. Kluska now expects that the company will earn ($0.04) per share for the year, up from their previous forecast of ($0.05). The consensus estimate for Mereo BioPharma Group’s current full-year earnings is ($0.05) per share.

Mereo BioPharma Group Stock Up 3.9 %

Shares of NASDAQ:MREO opened at $4.02 on Friday. Mereo BioPharma Group has a 1 year low of $0.69 and a 1 year high of $4.36. The stock’s fifty day moving average price is $2.76 and its 200-day moving average price is $1.98.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Monaco Asset Management SAM grew its holdings in Mereo BioPharma Group by 13.6% during the 4th quarter. Monaco Asset Management SAM now owns 676,494 shares of the company’s stock valued at $1,563,000 after buying an additional 80,765 shares in the last quarter. Golden State Equity Partners lifted its stake in shares of Mereo BioPharma Group by 41.0% in the 4th quarter. Golden State Equity Partners now owns 20,300 shares of the company’s stock valued at $47,000 after purchasing an additional 5,900 shares during the last quarter. abrdn plc bought a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $3,583,000. Tejara Capital Ltd lifted its stake in shares of Mereo BioPharma Group by 5.8% in the 3rd quarter. Tejara Capital Ltd now owns 3,215,001 shares of the company’s stock valued at $4,147,000 after purchasing an additional 177,030 shares during the last quarter. Finally, Rock Springs Capital Management LP lifted its stake in shares of Mereo BioPharma Group by 9.0% in the 3rd quarter. Rock Springs Capital Management LP now owns 7,676,481 shares of the company’s stock valued at $9,903,000 after purchasing an additional 634,090 shares during the last quarter. Institutional investors own 48.66% of the company’s stock.

Mereo BioPharma Group Company Profile

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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 tumors.

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