Mereo BioPharma Group plc (NASDAQ:MREO) finished Friday with an addition of $0.2 to close at $1.60, an upside of 14.29 percent. An average of 1,563,880 shares of common stock have been traded in the last five days. There was a gain of $0.3500 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 769,350 shares traded, while the 50-day average volume stands at 1,095,116.
MREO stock has increased by 35.59% in the last month. The company shares reached their 1-month lowest point of $1.1300 on 07/27/23. With the stock rallying to its 52-week high on 08/25/23, shares of the company touched a low of $0.49 and a high of $1.54 in 52 weeks. It has reached a new high 18 times so far this year and achieved 113.33% or $0.8500 in price. In spite of this, the price is up 3.90% from the 52-week high.
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Financial Health
Its gross profit as reported stood at $1.16 million.
Earnings Surprise
For the recent quarter, Mereo BioPharma Group plc had $0.18 million in total debt. The company posted a net income of -$34.2 million in the quarter, while revenues were grew 137.22%.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Mereo BioPharma Group plc (MREO) price momentum. RSI 9-day as of the close on 25 August was 83.22%, suggesting the stock is Overbought, with historical volatility in this time frame at 83.55%.
As of today, MREO’s price is $1.3780 +28.00% or $0.3500 from its 5-day moving average. MREO is currently trading +26.98% higher than its 20-day SMA and +103.36% higher than its 100-day SMA. However, the stock’s current price level is +15.94% above the SMA50 and +95.12% above the SMA200.
The stochastic %K and %D were 79.26% and 68.78%, respectively, and the average true range (ATR) was 0.1051. With the 14-day stochastic at 93.48% and the average true range at 0.0963, the RSI (14) stands at 74.79%. The stock has reached 0.1411 on the 9-day MACD Oscillator while the 14-day reading was at 0.1724.
Analyst Ratings
Cantor Fitzgerald launched coverage on Mereo BioPharma Group plc (NASDAQ: MREO) in its analyst report released on August 12, 2022. The firm assigned the stock an Overweight rating. The consensus rating for Mereo BioPharma Group plc (MREO) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MREO, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.
What is MREO’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $5.00, with a median target of $4.50. Taking a look at these predictions, the average price target given by analysts for Mereo BioPharma Group plc (MREO) stock is $4.50.
