Market cap of Mereo Biopharma Group Plc ADR [MREO] reaches 431.39M – now what?

Mereo Biopharma Group Plc ADR [NASDAQ: MREO] surged by $0.37 during the normal trading session on while it closed the day at $3.36. The company report on January 8, 2024 at 7:00 AM that Mereo BioPharma Provides Update on Pipeline Progress and Corporate Developments.

Phase 3 portion of Orbit Study and Phase 3 Cosmic Study of setrusumab for treatment of Osteogenesis Imperfecta (OI) conducted by partner Ultragenyx expected to complete enrollment around the end of 1Q 2024 and 1H 2024, respectively; Additional Phase 2 data expected in 2024.

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Alignment on design for single, global Phase 3 study of alvelestat in Alpha-1 Antitrypsin Deficiency-associated Lung Disease (AATD-LD) following additional interactions with U.S. FDA in 2H 2023.

Mereo Biopharma Group Plc ADR stock has also gained 6.84% of its value over the past 7 days. However, MREO stock has inclined by 92.00% in the 3 months of the year. Over the past six months meanwhile, it has gained 189.66% and gained 45.45% year-on date.

The market cap for MREO stock reached $431.39 million, with 128.39 million shares outstanding and 128.39 million shares in the current float. Compared to the average trading volume of 1.13M shares, MREO reached a trading volume of 6619525 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Mereo Biopharma Group Plc ADR [MREO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MREO shares is $4.25 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 1.00. 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 ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 13, 2023.

The Average True Range (ATR) for Mereo Biopharma Group Plc ADR is set at 0.26, with the Price to Sales ratio for MREO stock in the period of the last 12 months amounting to 49.08. The Price to Book ratio for the last quarter was 5.88, with the Price to Cash per share for the same quarter was set at 0.42.

MREO stock trade performance evaluation

Mereo Biopharma Group Plc ADR [MREO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.84. With this latest performance, MREO shares gained by 63.90% in over the last four-week period, additionally plugging by 189.66% over the last 6 months – not to mention a rise of 229.41% 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 73.74, with the RSI for the last a single of trading hit 75.16, and the three-weeks RSI is set at 71.88 for Mereo Biopharma Group Plc ADR [MREO]. The present Moving Average for the last 50 days of trading for this stock 2.34, while it was recorded at 3.10 for the last single week of trading, and 1.59 for the last 200 days.

Mereo Biopharma Group Plc ADR [MREO]: An insightful look at the core fundamentals

Mereo Biopharma Group Plc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.11 and a Current Ratio set at 3.11.

Mereo Biopharma Group Plc ADR [MREO]: Institutional Ownership

The top three institutional holders of MREO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MREO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MREO stock with ownership which is approximately 5.8325%.