In the last trading session, 1.07 million shares of the Mereo BioPharma Group plc (NASDAQ:MREO) were traded. Most recently the company’s share price was $2.20, and it changed around $0.09 or 4.27% from the last close, which brings the market valuation of the company to $242.51M. MREO currently trades at a discount to its 52-week high of $4.71, offering almost -114.09% off that amount. The share price’s 52-week low was $1.90, which indicates that the current value has risen by an impressive 13.64% since then. We note from Mereo BioPharma Group plc’s average daily trading volume that its 10-day average is 1.0 million shares, with the 3-month average coming to 1.01 million.
Mereo BioPharma Group plc stock received a consensus recommendation rating of a Buy, based on a mean score of 1.30. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended MREO as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Mereo BioPharma Group plc is expected to report earnings per share of $0 for the current quarter.
Mereo BioPharma Group plc (NASDAQ:MREO) trade information
Instantly MREO has showed a green trend with a performance of 4.27% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.28 on Tuesday, 10/12/21 increased the stock’s daily price by 3.51%. The company’s shares are currently down -38.55% year-to-date, but still down -2.22% over the last five days. On the other hand, Mereo BioPharma Group plc (NASDAQ:MREO) is -16.98% down in the 30-day period. We can see from the shorts that 7.52 million shares have been sold at a short interest cover period of 10.33 day(s).
The consensus price target as assigned by Wall Street analysts is $10.00, which translates to bulls needing to increase their stock price by 78.0% from its current value. Analyst projections state that MREO is forecast to be at a low of $10.00 and a high of $10.00. In order for the stock price to hit the forecast high, the stock would need to plunge -354.55% from its current level, while the stock would need to crash -354.55% from its current level to reach the projected low.
Mereo BioPharma Group plc (MREO) estimates and forecasts
Mereo BioPharma Group plc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -36.42 percent over the past six months and at a 83.44% annual growth rate that is well above the industry average of 6.70%.
Mereo BioPharma Group plc’s next quarterly earnings report is expected to be released in November.
Mereo BioPharma Group plc (NASDAQ:MREO)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.24% of Mereo BioPharma Group plc shares, and 84.71% of them are in the hands of institutional investors. The stock currently has a share float of 84.92%. Mereo BioPharma Group plc stock is held by 79 institutions, with Orbimed Advisors LLC. being the largest institutional investor. By Jun 29, 2021, it held 15.96% of the shares, which is about 17.26 million shares worth $54.73 million.
Point72 Asset Management, L.P., with 9.35% or 10.11 million shares worth $32.04 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.
Tekla Healthcare Investors and Primecap Odyssey Aggressive Growth Fund were the top two Mutual Funds as of Jun 29, 2021. The former held 0.72 million shares worth $2.27 million, making up 0.66% of all outstanding shares. On the other hand, Primecap Odyssey Aggressive Growth Fund held roughly 0.38 million shares worth around $0.99 million, which represents about 0.36% of the total shares outstanding.