Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mereo Biopharma Group Plc ADR shares valued at $253,454 were sold by Scots-Knight Denise on Sep 13 ’24. At $4.22 per share, Scots-Knight Denise sold 60,046 shares. The insider’s holdings dropped to 808,921 shares worth approximately $3.41 million following the completion of this transaction.
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Also, Scots-Knight Denise sold 28,611 shares, netting a total of over 127,968 in proceeds. Following the sale of shares at $4.47 each, the insider now holds 868,967 shares.
Before that, Lewicki John A. had sold 10,937 shares from its account. In a trade valued at $46,165, the Chief Scientific Officer traded Mereo Biopharma Group Plc ADR shares for $4.22 each. Upon closing the transaction, the insider’s holdings decreased to 10,937 shares, worth approximately $0.33 million.
As published in their initiating research note from Robert W. Baird on June 13, 2024, Mereo Biopharma Group Plc ADR [MREO] has been an Outperform and the price target has been revised to $8. As of August 12, 2022, Cantor Fitzgerald has initiated its “an Overweight” rating for MREO. Earlier on May 05, 2021, BTIG Research initiated its rating. Their recommendation was “a Buy” for MREO stock.
Analyzing MREO Stock Performance
During the last five days, there has been a drop of approximately -9.44%. Over the course of the year, Mereo Biopharma Group Plc ADR shares have jumped approximately 82.68%. Nevertheless, trading volume fell to 1.57 million shares from 0.81 million shares the previous day.
Support And Resistance Levels for Mereo Biopharma Group Plc ADR (MREO)
According to the 24-hour chart, there is a support level at 4.06, which, if violated, would cause prices to drop to 3.90. In the upper region, resistance lies at 4.34. The next price resistance is at 4.47. RSI (Relative Strength Index) is 47.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 64.58%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
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