Mereo BioPharma Group plc (NASDAQ:MREO) shares, rose in value on Thursday, 05/25/23, with the stock price down by -6.19% to the previous day’s close as strong demand from buyers drove the stock to $1.06.
Actively observing the price movement in the last trading, the stock closed the session at $1.13, falling within a range of $1.01 and $1.14. The value of beta (5-year monthly) was 0.83. Referring to stock’s 52-week performance, its high was $1.85, and the low was $0.44. On the whole, MREO has fluctuated by -13.82% over the past month.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
With the market capitalization of Mereo BioPharma Group plc currently standing at about $132.48 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2023.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MREO’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
4 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 4 recommend it as a Buy and 0 called the MREO stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MREO currently trading nearly -13.15% and 2.96% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.16, while the 7-day volatility ratio is showing 11.87% which for the 30-day chart, stands at 11.05%. Furthermore, Mereo BioPharma Group plc (MREO)’s average true range (ATR) is 0.13. The company’s stock has been forecasted to trade at an average price of $4.25 over the course of the next 52 weeks, with a low of $4.00 and a high of $5.00. Based on these price targets, the low is -277.36% off current price, whereas the price has to move -371.7% to reach the yearly target high. Additionally, analysts’ median price of $4.00 is likely to be welcomed by investors because it represents a decrease of -277.36% from the current levels.
Data on historical trading for Mereo BioPharma Group plc (NASDAQ:MREO) indicates that the trading volumes over the past 10 days have averaged 2.65 million and over the past 3 months, they’ve averaged 1.38 million. According to company’s latest data on outstanding shares, there are 124.99 million shares outstanding.
Mereo BioPharma Group plc’s shares belong to company insiders and institutional investors own 51.68% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.16 million shares as on May 14, 2023, resulting in a short ratio of 2.78. According to the data, the short interest in Mereo BioPharma Group plc (MREO) stood at 4.13% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 3.9 million. The stock has risen by 41.33% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MREO stock heading into the next quarter.