Sunday, June 26, 2022

The Attractiveness of Investing In Mereo BioPharma Group plc (MREO) is Growing

BTIG Research initiated its Mereo BioPharma Group plc [MREO] rating to a Buy in a research note published on Tuesday, May 05, 2021; the price target was $10. PT values the company’s stock at a premium of 83.1 to its Tuesday closing price. A number of analysts have revised their coverage, including Needham’s analysts, who began to cover the stock in early April with a ‘”a Buy”‘ rating.

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Price Performance Review of MREO

On Tuesday, Mereo BioPharma Group plc [NASDAQ:MREO] saw its stock jump 30.00% to $1.69. On the same session, the stock had its day’s lowest price of $1.291, but rose to a high of $1.85. Over the last five days, the stock has gained 182.23%. Mereo BioPharma Group plc shares have risen nearly 5.63% since the year began. Nevertheless, the stocks have fallen -47.19% over the past one year. While a 52-week high of $3.37 was reached on 06/21/22, a 52-week low of $0.30 was recorded on 05/12/22. SMA at 50 days reached $0.6579, while 200 days put it at $1.4759. A total of 52.88 million shares were traded, compared to the trading of 1.2 million shares in the previous session.

Levels Of Support And Resistance For MREO Stock

The 24-hour chart illustrates a support level at 1.3707, which if violated will result in even more drops to 1.0513. On the upside, there is a resistance level at 1.9297. A further resistance level may holdings at 2.1693. The Relative Strength Index (RSI) on the 14-day chart is 87.12, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.5150, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 11.36%. Stochastics %K at 79.83% indicates the stock is a holding.

Mereo BioPharma Group plc [MREO] – Who Are The Largest Shareholders?

In filings from Rubric Capital Management LP, it is revealed that the company now owns 16,454,562 shares, or roughly 14.10% of the outstanding MREO shares. In other words, the investor’s shares have risen by 1,454,562 from its previous 13-F filing of 15000000.0. Additionally, Point72 Asset Management LP increased 8.34% of its stake after which the total value it holdings stand at $5,804,975, while Suvretta Capital Management LLC reduced 0.00% of its stake to hold $4.62 million in the firm. Over the last quarter, Rock Springs Capital Management L purchased 489,322 shares of Mereo BioPharma Group plc, while Citadel Advisors LLC bought -94,479 shares. At present, HHLR Advisors Ltd. is holding 2,976,121 shares valued at $1.5 million. Holocene Advisors, LP owned 2,532,204 shares of the company at the time of its most recent 13F filing, worth $1.28 million.

According to FactSet, Mereo BioPharma Group plc’s share price will average $7.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 515.38 percent from its previous closing price of $1.30. Analysts expect Mereo BioPharma Group plc stock to reach the higher price of $8.00, while the lowest price estimate is $5.00.

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