Mereo BioPharma Group plc (NASDAQ: MREO) stock jumped 5.15% on Monday to $1.02 against a previous-day closing price of $0.97. With 2.33 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.1700 whereas the lowest price it dropped to was $0.9020. The 52-week range on MREO shows that it touched its highest point at $1.85 and its lowest point at $0.30 during that stretch. It currently has a 1-year price target of $4.25.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MREO was up-trending over the past week, with a rise of 14.90%, but this was up by 92.45% over a month. Three-month performance surged to 4.51% while six-month performance fell -34.62%. The stock lost -18.40% in the past year, while it has gained 36.00% so far this year.
Float and Shares Shorts:
At present, 124.99 million MREO shares are outstanding with a float of 124.99 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.09 million, which was 5.21% higher than short shares on Sep 14, 2022. In addition to Dr. Denise Scots-Knight Ph.D. as the firm’s Co-Founder, CEO & Exec. Director, Mr. Charles Sermon serves as its Co-Founder, Gen. Counsel & Company Sec.
Through their ownership of 56.93% of MREO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.23% of MREO, in contrast to 4.27% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MREO with 8.29% of the stake, Rubric Capital Management LP holds 10,366,120 shares worth 10,366,120. A second-largest stockholder of MREO, Point72 Asset Management LP, holds 9,829,354 shares, controlling over 7.86% of the firm’s shares. Suvretta Capital Management LLC is the third largest shareholder in MREO, holding 7,364,438 shares or 5.89% stake. With a 1.64% stake in MREO, the FCP Medical – BioHealth is the largest stakeholder. A total of 2,045,327 shares are owned by the mutual fund manager. The Tekla Healthcare Investors, which owns about 0.85% of MREO stock, is the second-largest Mutual Fund holder. It holds 1,063,799 shares valued at 0.8 million. APO Medical Opportunities holds 0.49% of the stake in MREO, owning 611,772 shares worth 0.46 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MREO since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MREO analysts setting a high price target of $5.00 and a low target of $4.00, the average target price over the next 12 months is $4.25. Based on these targets, MREO could surge 390.2% to reach the target high and rise by 292.16% to reach the target low. Reaching the average price target will result in a growth of 316.67% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MREO will report FY 2022 earnings on 03/28/2024. Analysts have provided yearly estimates in a range of -$0.07 being high and -$0.69 being low. For MREO, this leads to a yearly average estimate of -$0.23. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.14. The average estimate for the next quarter is thus -$0.14.