Mereo Biopharma Group Plc ADR Up 9.66% To $3.29 After Earnings

Mereo Biopharma Group Plc ADR (MREO) said after close Wednesday that it lost $0.04 per share in FALSE 2023. The company reported $10 million in revenue

The stock is up 9.66% to $3.29 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Mereo Biopharma Group Plc ADR has performed a little below average during the past few months. Before the report, Mereo Biopharma Group Plc ADR received a Long-Term Technical Rank by InvestorsObserver of 44, putting it in the bottom half of stocks. The firm was recently trading at a 52-week high of $4.36 on February 5, 2024 and set a 52-week low on March 29, 2023 at $0.69.

Mereo BioPharma Group PLC is a multi-asset, clinical-stage biopharmaceutical company. It is focused on the development and commercialization of innovative therapeutics that aim to improve outcomes for oncology and rare diseases. Its lead oncology product candidate is etigilimab, for patients with advanced solid tumors. Some of the other products in the pipeline are setrusumab, alvelestat, leflutrozole, navicixizumab, and acumapimod.