Wall Street Analyst Initiated Mereo BioPharma Group plc [MREO]. What else is Wall St. saying


Mereo BioPharma Group plc [NASDAQ: MREO] slipped around -0.09 points on Wednesday, while shares priced at $1.29 at the close of the session, down -6.52%. The company report on July 5, 2022 that Mereo BioPharma Regains Compliance with Nasdaq Minimum Bid Price Requirement.

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Mereo BioPharma Group plc (NASDAQ: MREO), (“Mereo” or “the Company”), a clinical-stage biopharmaceutical company focused on rare diseases and oncology, today announced that it has received a written notification (the “Notification Letter”) from the Listing Qualifications Department of the Nasdaq Stock Market, LLC (“Nasdaq”) informing the Company that it has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) and the matter is closed.

As announced on May 26, 2022, the Company was notified by Nasdaq that it was not in compliance with the Minimum Bid Price Requirement, as the closing bid price of the Company’s American Depositary Shares (the “ADSs”) had been below US$1.00 for 30 consecutive business days. To regain compliance with the Minimum Bid Price Requirement, Mereo was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days.

Mereo BioPharma Group plc stock is now -19.38% down from its year-to-date (YTD) trading value. MREO Stock saw the intraday high of $1.4296 and lowest of $1.245 per share. The company’s 52-week high price is 3.21, which means current price is +328.57% above from all time high which was touched on 06/21/22.

Compared to the average trading volume of 5.17M shares, MREO reached a trading volume of 3189820 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Mereo BioPharma Group plc [MREO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MREO shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MREO stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for Mereo BioPharma Group plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 05, 2021. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on April 05, 2021, representing the official price target for Mereo BioPharma Group plc stock.

The Average True Range (ATR) for Mereo BioPharma Group plc is set at 0.20, with the Price to Sales ratio for MREO stock in the period of the last 12 months amounting to 4.14. The Price to Book ratio for the last quarter was 1.71.

How has MREO stock performed recently?

Mereo BioPharma Group plc [MREO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.57. With this latest performance, MREO shares gained by 126.32% in over the last four-week period, additionally sinking by -24.12% over the last 6 months – not to mention a drop of -57.84% 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 57.45, with the RSI for the last a single of trading hit 54.54, and the three-weeks RSI is set at 57.92 for Mereo BioPharma Group plc [MREO]. The present Moving Average for the last 50 days of trading for this stock 0.7629, while it was recorded at 1.3060 for the last single week of trading, and 1.4127 for the last 200 days.

Mereo BioPharma Group plc [MREO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Mereo BioPharma Group plc [MREO] shares currently have an operating margin of -57.42 and a Gross Margin at +49.13. Mereo BioPharma Group plc’s Net Margin is presently recorded at +34.90.

Return on Equity for this stock inclined to 35.45, with Return on Assets sitting at 13.60.

Insider trade positions for Mereo BioPharma Group plc [MREO]

There are presently around $115 million, or 79.61% of MREO stock, in the hands of institutional investors. The top three institutional holders of MREO stocks are: RUBRIC CAPITAL MANAGEMENT LP with ownership of 15,000,000, which is approximately 0.574% of the company’s market cap and around 0.05% of the total institutional ownership; POINT72 ASSET MANAGEMENT, L.P., holding 11,495,000 shares of the stock with an approximate value of $15.86 million in MREO stocks shares; and ORBIMED ADVISORS LLC, currently with $14.01 million in MREO stock with ownership of nearly New of the company’s market capitalization.

25 institutional holders increased their position in Mereo BioPharma Group plc [NASDAQ:MREO] by around 13,674,852 shares. Additionally, 27 investors decreased positions by around 5,407,535 shares, while 24 investors held positions by with 63,889,373 shares. The mentioned changes placed institutional holdings at 82,971,760 shares, according to the latest SEC report filing. MREO stock had 3 new institutional investments in for a total of 10,188,308 shares, while 15 institutional investors sold positions of 1,970,255 shares during the same period.