Mereo Biopharma Group Plc ADR (NASDAQ: MREO) stock jumped 0.97% on Friday to $2.08 against a previous-day closing price of $2.06. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.27 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.1500 whereas the lowest price it dropped to was $2.0400. The 52-week range on MREO shows that it touched its highest point at $2.39 and its lowest point at $0.49 during that stretch. It currently has a 1-year price target of $4.25. Beta for the stock currently stands at 0.79.
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Price Performance and Earnings:
Three-month performance surged to 66.40% while six-month performance rose 56.39%. The stock gained 174.41% in the past year, while it has gained 177.33% so far this year. A look at the trailing 12-month EPS for MREO yields -0.25 with Next year EPS estimates of -0.03.
Float and Shares Shorts:
At present, 128.39 million MREO shares are outstanding with a float of 128.36 million shares on hand for trading. On Sep 28, 2023, short shares totaled 3.02 million, which was 2.35% higher than short shares on Aug 30, 2023. 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..
Institutional Ownership:
Through their ownership of 51.10% of MREO’s outstanding shares, institutional investors have majority control over the company. With a 0.76% stake in MREO, the abrdn Healthcare Investors is the largest stakeholder. A total of 1,063,799 shares are owned by the mutual fund manager. The abrdn Life Sciences Investors, which owns about 0.35% of MREO stock, is the second-largest Mutual Fund holder. It holds 487,283 shares valued at 0.98 million. Formidable ETF holds 0.23% of the stake in MREO, owning 319,390 shares worth 0.64 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MREO since 0 analysts follow the stock currently. 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 140.38% to reach the target high and rise by 92.31% to reach the target low. Reaching the average price target will result in a growth of 104.33% from current levels.
