Mereo BioPharma Group plc [MREO] moved up 11.49: Why It’s Important

Mereo BioPharma Group plc [NASDAQ: MREO] price surged by 11.49 percent to reach at $0.4. The company report on February 12, 2021 that Mereo BioPharma Group plc Announces Closing of Public Offering of American Depositary Shares and Full Exercise of Underwriters’ Option to Purchase Additional American Depositary Shares.

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Mereo BioPharma Group plc (NASDAQ: MREO) (“Mereo” or the “Company”), a clinical-stage biopharmaceutical company focused on oncology and rare diseases, announced the closing of its previously announced underwritten public offering of 39,675,000 American Depositary Shares (“ADSs”), at a public offering price of $2.90 per ADS, which includes 5,175,000 additional ADSs issued upon the exercise in full of the underwriters’ option to purchase additional ADSs. Each ADS represents five ordinary shares of Mereo. The aggregate gross proceeds to Mereo from the offering, before deducting underwriting discounts and commissions and offering expenses were $115.1 million. All of the ADSs in the offering were sold by Mereo.

SVB Leerink acted as sole book-running manager for the offering. BTIG and Needham & Company acted as the co-lead managers for the offering.

A sum of 8195581 shares traded at recent session while its average daily volume was at 2.68M shares. Mereo BioPharma Group plc shares reached a high of $3.90 and dropped to a low of $3.51 until finishing in the latest session at $3.88.

Guru’s Opinion on Mereo BioPharma Group plc [MREO]:

The Average True Range (ATR) for Mereo BioPharma Group plc is set at 0.29

MREO Stock Performance Analysis:

Mereo BioPharma Group plc [MREO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.21. With this latest performance, MREO shares gained by 16.87% in over the last four-week period, additionally plugging by 30.64% over the last 6 months – not to mention a rise of 136.98% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MREO stock in for the last two-week period is set at 70.58, with the RSI for the last a single of trading hit 76.63, and the three-weeks RSI is set at 66.82 for Mereo BioPharma Group plc [MREO]. The present Moving Average for the last 50 days of trading for this stock 3.01, while it was recorded at 3.41 for the last single week of trading, and 2.65 for the last 200 days.

Insight into Mereo BioPharma Group plc Fundamentals:

Return on Total Capital for MREO is now -60.95, given the latest momentum, and Return on Invested Capital for the company is -66.73. Return on Equity for this stock declined to -93.52, with Return on Assets sitting at -44.41. When it comes to the capital structure of this company, Mereo BioPharma Group plc [MREO] has a Total Debt to Total Equity ratio set at 80.61. Additionally, MREO Total Debt to Total Capital is recorded at 44.63, with Total Debt to Total Assets ending up at 37.54. Long-Term Debt to Equity for the company is recorded at 36.58, with the Long-Term Debt to Total Capital now at 20.25.

Reflecting on the efficiency of the workforce at the company, Mereo BioPharma Group plc [MREO] managed to generate an average of -$966,345 per employee.

Mereo BioPharma Group plc [MREO] Insider Position Details

There are presently around $172 million, or 21.62% of MREO stock, in the hands of institutional investors. The top three institutional holders of MREO stocks are: BOXER CAPITAL, LLC with ownership of 6,226,673, which is approximately 54.521% of the company’s market cap and around 0.77% of the total institutional ownership; BAKER BROS. ADVISORS LP, holding 6,030,293 shares of the stock with an approximate value of $23.4 million in MREO stocks shares; and VIVO CAPITAL, LLC, currently with $16.38 million in MREO stock with ownership of nearly -32.149% of the company’s market capitalization.

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31 institutional holders increased their position in Mereo BioPharma Group plc [NASDAQ:MREO] by around 31,308,206 shares. Additionally, 13 investors decreased positions by around 2,780,818 shares, while 9 investors held positions by with 10,167,848 shares. The mentioned changes placed institutional holdings at 44,256,872 shares, according to the latest SEC report filing. MREO stock had 23 new institutional investments in for a total of 21,993,382 shares, while 7 institutional investors sold positions of 563,894 shares during the same period.

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