Merus (NASDAQ:MRUS) Sets New 52-Week High – Here’s What Happened

Merus N.V. (NASDAQ:MRUS)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $96.34 and last traded at $96.2750, with a volume of 271415 shares trading hands. The stock had previously closed at $96.14.

Analyst Ratings Changes

A number of brokerages have weighed in on MRUS. Alliance Global Partners initiated coverage on Merus in a report on Monday, August 25th. They issued a “buy” rating and a $90.00 target price for the company. Truist Financial downgraded shares of Merus from a “buy” rating to a “hold” rating and raised their price objective for the stock from $88.00 to $97.00 in a research report on Monday, September 29th. HC Wainwright lowered shares of Merus from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $135.00 to $97.00 in a research note on Monday, September 29th. Leerink Partnrs lowered shares of Merus from a “strong-buy” rating to a “hold” rating in a research note on Sunday, October 5th. Finally, Citigroup cut shares of Merus from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $101.00 to $97.00 in a report on Monday, September 29th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.56.

Merus Stock Up 0.4%

The company has a 50-day moving average of $95.31 and a 200-day moving average of $73.89. The company has a market cap of $7.34 billion, a PE ratio of -18.26 and a beta of 1.06.

Insider Activity at Merus

In other Merus news, VP Harry Shuman sold 8,300 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $95.92, for a total value of $796,136.00. Following the transaction, the vice president owned 11,002 shares of the company’s stock, valued at approximately $1,055,311.84. The trade was a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Merus

Institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL purchased a new stake in shares of Merus during the third quarter worth $68,838,000. Swiss Life Asset Management Ltd bought a new position in Merus in the third quarter valued at $238,000. Polar Asset Management Partners Inc. raised its holdings in shares of Merus by 870.1% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 50,000 shares of the biotechnology company’s stock valued at $4,708,000 after buying an additional 44,846 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of Merus during the third quarter worth approximately $1,423,000. Finally, JPMorgan Chase & Co. raised its position in Merus by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 756,013 shares of the biotechnology company’s stock worth $71,179,000 after purchasing an additional 57,168 shares during the period. 96.14% of the stock is owned by hedge funds and other institutional investors.

About Merus

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.