Mereo Biopharma Group Plc ADR (NASDAQ:MREO) price on Friday, November 15, fall -7.59% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.53.
A look at the stock’s price movement, the close in the last trading session was $3.82, moving within a range at $3.505 and $3.8. Turning to its 52-week performance, $5.02 and $1.86 were the 52-week high and 52-week low respectively. Overall, MREO moved -22.59% over the past month.
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Mereo Biopharma Group Plc ADR’s market cap currently stands at around $546.20 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Nov-12.
Wall Street analysts have also projected the company’s year-on-year revenue to grow to 11.37M, representing a 43.61% jump on that reported in the last financial year.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend MREO as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MREO’s current price about -15.20% and -16.91% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.71, while 7-day volatility ratio is 7.01% and 5.05% in the 30-day chart. Further, Mereo Biopharma Group Plc ADR (MREO) has a beta value of 0.97, and an average true range (ATR) of 0.22. Analysts have given the company’s stock an average 52-week price target of $7.5, forecast between a low of $4 and high of $8. Looking at the price targets, the low is -13.31% off current price level while to achieve the yearly target high, price needs to move -126.63%. Nonetheless, investors will most likely welcome a -112.46% jump to $7.5 which is the analysts’ median price.
If we refocus on Mereo Biopharma Group Plc ADR (NASDAQ:MREO), historical trading data shows that trading volumes averaged 0.68 over the past 10 days and 757.33K over the past 3 months. The company’s latest data on shares outstanding shows there are 154.73 million shares.
The 7.81% of Mereo Biopharma Group Plc ADR’s shares are in the hands of company insiders while institutional holders own 60.09% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.57 million on 2024-10-31, giving us a short ratio of 7.45. The data shows that as of 2024-10-31 short interest in Mereo Biopharma Group Plc ADR (MREO) stood at 352.0 of shares outstanding, with shares short falling to 4.88 million registered in 2024-09-30. Current price change has pushed the stock 52.81% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MREO stock continues to rise going into the next quarter.
