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Should This Keep Mereo Biopharma Group Plc ADR (NASDAQ: MREO) Investors Up At Night?

Mereo Biopharma Group Plc ADR (NASDAQ:MREO) price closed lower on Monday, February 12, dropping -2.75% below its previous close.

A look at the daily price movement shows that the last close reads $4.00. The company’s 5Y monthly beta was ticking 0.82. Taking into account the 52-week price action we note that the stock hit a 52-week high of $4.36 and 52-week low of $0.69. The stock added 37.94% on its value in the past month.

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Mereo Biopharma Group Plc ADR, which has a market valuation of $499.44 million, is expected to release its quarterly earnings report Feb 20, 2024 – Feb 24, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give MREO a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.

The overview shows that MREO’s price is at present 8.61% off the SMA20 and 40.47% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 64.64, with weekly volatility standing at 6.48%. The indicator jumps to 10.59% when calculated based on the past 30 days. Mereo Biopharma Group Plc ADR (NASDAQ:MREO)’s beta value is holding at 0.82, while the average true range (ATR) indicator is currently reading 0.30.

An analysis of the Mereo Biopharma Group Plc ADR (NASDAQ:MREO) stock in terms of its daily trading volume indicates that the 3-month average is 0.87. However, this figure increases on the past 10-day timeline to an average of 1.81 million.

Current records show that the company has 128.39M in outstanding shares. The insiders’ percentage holdings are 0.00% of outstanding shares while the percentage share held by institutions stands at 64.69%. The stats also highlight that short interest as of Jan 31, 2024, stood at 2.21 million shares, which puts the short ratio at the time at 0.9. From this we can glean that short interest is 1.58% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 1.48 million. But the 68.40% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.