Mereo Biopharma Group Plc ADR (NASDAQ:MREO) price on Friday, May 23, fall -1.75% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.24.
A look at the stock’s price movement, the close in the last trading session was $2.28. Turning to its 52-week performance, $5.02 and $1.58 were the 52-week high and 52-week low respectively. Overall, MREO moved -11.81% over the past month.
Mereo Biopharma Group Plc ADR’s market cap currently stands at around $356.16 million, with investors looking forward to this quarter’s earnings report slated for in June.
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 -6.65% and -3.64% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.71, while 7-day volatility ratio is 2.02% and 3.83% in the 30-day chart. Further, Mereo Biopharma Group Plc ADR (MREO) has a beta value of 0.45, and an average true range (ATR) of 0.15. 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 -78.57% off current price level while to achieve the yearly target high, price needs to move -257.14%. Nonetheless, investors will most likely welcome a -234.82% 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 1.50 million over the past 3 months. The company’s latest data on shares outstanding shows there are 159.00 million shares.
The 9.53% of Mereo Biopharma Group Plc ADR’s shares are in the hands of company insiders while institutional holders own 60.80% of the company’s shares. Current price change has pushed the stock -36.00% 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.
