Merus (NASDAQ:MRUS) Hits New 52-Week High – Here’s Why
by Sarita Garza · The Markets DailyMerus N.V. (NASDAQ:MRUS – Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $96.98 and last traded at $96.92, with a volume of 1304104 shares changing hands. The stock had previously closed at $96.82.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on MRUS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Merus in a report on Wednesday, October 8th. HC Wainwright lowered shares of Merus from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $97.00 in a report on Monday, September 29th. Canaccord Genuity Group downgraded Merus from a “buy” rating to a “hold” rating and boosted their price target for the company from $67.00 to $97.00 in a report on Monday, September 29th. William Blair lowered Merus from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Lifesci Capital reiterated a “market perform” rating and issued a $97.00 price objective on shares of Merus in a research report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $93.56.
Get Our Latest Research Report on MRUS
Merus Trading Down 0.1%
The stock has a market cap of $7.34 billion, a PE ratio of -18.26 and a beta of 1.06. The business has a fifty day simple moving average of $95.61 and a two-hundred day simple moving average of $75.56.
Insider Buying and Selling at Merus
In other news, VP Harry Shuman sold 8,300 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $95.92, for a total transaction of $796,136.00. Following the sale, the vice president owned 11,002 shares in the company, valued at approximately $1,055,311.84. The trade was a 43.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder A/S Genmab bought 150,795 shares of Merus stock in a transaction dated Wednesday, December 17th. The stock was acquired at an average cost of $97.00 per share, for a total transaction of $14,627,115.00. Following the completion of the transaction, the insider directly owned 71,734,624 shares in the company, valued at approximately $6,958,258,528. This trade represents a 0.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.70% of the company’s stock.
Hedge Funds Weigh In On Merus
Hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in Merus by 299.0% during the 2nd quarter. CWM LLC now owns 802 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 601 shares in the last quarter. Quarry LP purchased a new stake in shares of Merus during the third quarter valued at approximately $42,000. Farther Finance Advisors LLC increased its position in shares of Merus by 10,400.0% during the third quarter. Farther Finance Advisors LLC now owns 525 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 520 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Merus in the 3rd quarter worth approximately $75,000. Finally, Quantbot Technologies LP purchased a new position in Merus in the 3rd quarter worth approximately $114,000. Institutional investors own 96.14% of the company’s stock.
Merus Company Profile
Merus N.V., a clinical-stage immuno-oncology company, engages in the development of antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trials for the treatment of patients with metastatic breast cancer and castration-resistant prostate cancer, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1.
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