In yesterday’s Wall Street session, Mereo BioPharma Group plc (NASDAQ:MREO) shares traded at $1.26, up 6.78% from the previous session.
2 analysts cover Mereo BioPharma Group plc (NASDAQ:MREO), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $4.00, we find $4.50. Given the previous closing price of $1.18, this indicates a potential upside of 281.36 percent. MREO stock price is now 1.89% away from the 50-day moving average and 27.77% away from the 200-day moving average. The market capitalization of the company currently stands at $157.48M.
The stock has received a hold rating from 0 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $4.50 as their price target over the next twelve months.
With the price target of $4, Cantor Fitzgerald recently initiated with Overweight rating for Mereo BioPharma Group plc (NASDAQ: MREO).
There have been several recent changes in the stakes of large investors in MREO stock. A new stake in Mereo BioPharma Group plc shares was purchased by BOOTHBAY FUND MANAGEMENT, LLC during the first quarter worth $539,000. ACADIAN ASSET MANAGEMENT LLC invested $242,000 in shares of MREO during the first quarter. In the first quarter, WORTH VENTURE PARTNERS, LLC acquired a new stake in Mereo BioPharma Group plc valued at approximately $96,000. SEI INVESTMENTS CO acquired a new stake in MREO for approximately $74,000. PFG INVESTMENTS, LLC purchased a new stake in MREO valued at around $60,000 in the second quarter. In total, there are 69 active investors with 51.10% ownership of the company’s stock.
On Friday morning Mereo BioPharma Group plc (NASDAQ: MREO) stock kicked off with the opening price of $1.1800. During the past 12 months, Mereo BioPharma Group plc has had a low of $0.49 and a high of $1.52. The fifty day moving average price for MREO is $1.2389 and a two-hundred day moving average price translates $0.9875 for the stock.
The latest earnings results from Mereo BioPharma Group plc (NASDAQ: MREO) was released for Dec, 2022.
Mereo BioPharma Group plc(MREO) Company Profile
Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom and internationally. Its lead product candidate, etigilimab (OMP-313M32), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors. The company is also developing Navicixizumab (OMP-305B83), which has completed Phase 1b clinical trials for the treatment of the late line ovarian cancer; Acumapimod (BCT-197), a p38 MAP kinase inhibitor that is in Phase II clinical trials to treat acute exacerbations of chronic obstructive pulmonary disease; and Leflutrozole (BGS-649), an oral aromatase inhibitor for the treatment of hypogonadotropic hypogonadism which is in Phase 2 trials. In addition, it develops rare disease product candidates, including Setrusumab (BPS-804), a novel antibody for the treatment of osteogenesis imperfecta; and Alvelestat (MPH-966), an oral small molecule that is in Phase II clinical trial to treat Alpha-1 anti-trypsin deficiency. The company has a collaboration with The University of Texas MD Anderson Cancer Center to evaluate anti-TIGIT therapeutic antibody candidate, etigilimab; and license agreement with Ultragenyx Pharmaceutical Inc. to develop and commercialize setrusumab. Mereo BioPharma Group plc was incorporated in 2015 and is headquartered in London, the United Kingdom.
