Mereo Biopharma Group Plc ADR (NASDAQ:MREO) price on Tuesday, December 24, rose 12.39% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $3.81.
A look at the stock’s price movement, the close in the last trading session was $3.39, moving within a range at $3.47 and $3.88. Turning to its 52-week performance, $5.02 and $2.15 were the 52-week high and 52-week low respectively. Overall, MREO moved 2.15% over the past month.
Mereo Biopharma Group Plc ADR’s market cap currently stands at around $587.97 million, with investors looking forward to this quarter’s earnings report slated for in January.
Wall Street analysts have also projected the company’s year-on-year revenue to grow to 8.12M, representing a 2.58% 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 6.55% and -1.89% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 55.40, while 7-day volatility ratio is 8.60% and 6.78% in the 30-day chart. Further, Mereo Biopharma Group Plc ADR (MREO) has a beta value of 0.92, and an average true range (ATR) of 0.25. 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 -4.99% off current price level while to achieve the yearly target high, price needs to move -109.97%. Nonetheless, investors will most likely welcome a -96.85% 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 1.22 over the past 10 days and 775.43K over the past 3 months. The company’s latest data on shares outstanding shows there are 154.73 million shares.
The 11.19% of Mereo Biopharma Group Plc ADR’s shares are in the hands of company insiders while institutional holders own 59.44% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.63 million on 2024-11-29, giving us a short ratio of 8.1. The data shows that as of 2024-11-29 short interest in Mereo Biopharma Group Plc ADR (MREO) stood at 505.99999999999994 of shares outstanding, with shares short rising to 4.57 million registered in 2024-10-31. Current price change has pushed the stock 64.50% 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.
