As of Wednesday, Mereo BioPharma Group plc’s (NASDAQ:MREO) stock closed at $0.78, down from $0.79 the previous day. While Mereo BioPharma Group plc has underperformed by -0.57%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, MREO fell by -59.22%, with highs and lows ranging from $2.06 to $0.30, whereas the simple moving average fell by -24.23% in the last 200 days.
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On August 12, 2022, Cantor Fitzgerald started tracking Mereo BioPharma Group plc (NASDAQ: MREO) recommending Overweight. A report published by BTIG Research on May 05, 2021, Initiated its previous ‘Buy’ rating for MREO. Needham also rated MREO shares as ‘Buy’, setting a target price of $10 on the company’s shares in an initiating report dated April 05, 2021.
For any stock, average volume can also provide valuable insight into volatility, and MREO is recording 517.04K average volume. On a monthly basis, the volatility of the stock is set at 8.93%, whereas on a weekly basis, it is put at 7.80%, with a gain of 3.28% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.25, showing growth from the present price of $0.78, which can serve as yet another indication of whether MREO is worth investing in or should be passed over.
How Do You Analyze Mereo BioPharma Group plc Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 56.93% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in MREO shares?
The recent increase in stakes in MREO appears to be a result of several institutional investors and hedge funds increasing their positions. Point72 Asset Management LP made another decreased to its shares in MREO during the first quarter, downing its stake by -2.06%. During the last quarter, the company dropped down -206,616 additional shares for a total stake of worth $9.83 million, bringing number of shares owned by the company to 9,829,354.
During the first quarter, Suvretta Capital Management LLC subtracted a -1,777,629 position in MREO. Rock Springs Capital Management L purchased an additional 14622.0 shares in the last quarter, increasing its holdings by 0.23%, now holding 6.24 million shares worth $6.24 million. At the end of the first quarter, Clearline Capital LP increased its MREO holdings by 29.38% and now holds 3.96 million MREO shares valued at $3.96 million with the added 0.9 million shares during the period. MREO shares are owned by institutional investors to the tune of 56.93% at present.