Why Mereo Biopharma Group Plc ADR (NASDAQ: MREO) Stock Shouldn’t Be Ignored In 2024

In the last trading session, 1.86 million shares of the Mereo Biopharma Group Plc ADR (NASDAQ:MREO) were traded, and its beta was 0.77. Most recently the company’s share price was $3.30, and it changed around $0.3 or 10.00% from the last close, which brings the market valuation of the company to $462.20M. MREO currently trades at a discount to its 52-week high of $4.36, offering almost -32.12% off that amount. The share price’s 52-week low was $0.69, which indicates that the current value has risen by an impressive 79.09% since then. We note from Mereo Biopharma Group Plc ADR’s average daily trading volume that its 10-day average is 1.14 million shares, with the 3-month average coming to 1.75 million.

Mereo Biopharma Group Plc ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 0 recommended MREO as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Mereo Biopharma Group Plc ADR is expected to report earnings per share of $0 for the current quarter.

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Mereo Biopharma Group Plc ADR (NASDAQ:MREO) trade information

Instantly MREO has showed a green trend with a performance of 10.00% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 42.86% year-to-date, but still up 11.49% over the last five days. On the other hand, Mereo Biopharma Group Plc ADR (NASDAQ:MREO) is -11.53% down in the 30-day period. We can see from the shorts that 2.19 million shares have been sold at a short interest cover period of 1.46 day(s).

The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to increase their stock price by 34.0% from its current value. Analyst projections state that MREO is forecast to be at a low of $4 and a high of $6.

Mereo Biopharma Group Plc ADR (MREO) estimates and forecasts

Mereo Biopharma Group Plc ADR 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 risen 145.35 percent over the past six months and at a 110.00% annual growth rate that is well above the industry average of 13.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 41.78%.

MREO Dividends

Mereo Biopharma Group Plc ADR’s next quarterly earnings report is expected to be released around March 26 and April 01.

Mereo Biopharma Group Plc ADR (NASDAQ:MREO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.51% of Mereo Biopharma Group Plc ADR shares, and 61.41% of them are in the hands of institutional investors. The stock currently has a share float of 61.73%. Mereo Biopharma Group Plc ADR stock is held by 71 institutions, with Rubric Capital Management LP being the largest institutional investor. By Jun 29, 2023, it held 17.15% of the shares, which is about 11.62 million shares worth $15.33 million.

Suvretta Capital Management, LLC, with 10.87% or 7.36 million shares worth $9.72 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Tekla Healthcare Investors and Tekla Life Sciences Investors were the top two Mutual Funds as of Jun 29, 2023. The former held 1.06 million shares worth $1.4 million, making up 1.57% of all outstanding shares. On the other hand, Tekla Life Sciences Investors held roughly 0.49 million shares worth around $0.64 million, which represents about 0.72% of the total shares outstanding.