Merus (NASDAQ:MRUS) Reaches New 12-Month High – Here’s What Happened

Merus N.V. (NASDAQ:MRUS)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $69.20 and last traded at $68.09, with a volume of 404036 shares trading hands. The stock had previously closed at $67.28.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MRUS. Industrial Alliance Securities set a $90.00 price objective on shares of Merus in a research report on Monday. Wells Fargo & Company lowered their target price on Merus from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. HC Wainwright raised Merus to a “strong-buy” rating in a research report on Wednesday, August 6th. Needham & Company LLC cut their price target on Merus from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen lowered Merus from a “hold” rating to a “sell” rating in a research note on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $88.75.

Merus Trading Down 0.4%

The stock’s 50-day moving average price is $61.26 and its 200-day moving average price is $51.25. The company has a market capitalization of $4.98 billion, a P/E ratio of -11.97 and a beta of 1.09.

Merus (NASDAQ:MRUS) last posted its earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($1.06). Merus had a negative net margin of 685.64% and a negative return on equity of 50.28%. The company had revenue of $8.83 million during the quarter, compared to the consensus estimate of $9.77 million. Sell-side analysts expect that Merus N.V. will post -3.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Merus news, COO Peter B. Silverman sold 34,000 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $52.76, for a total value of $1,793,840.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 82,500 shares of company stock valued at $4,586,340. 3.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Merus

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Merus by 2,153.6% in the first quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 603 shares during the period. CWM LLC raised its holdings in Merus by 299.0% during the 2nd quarter. CWM LLC now owns 802 shares of the biotechnology company’s stock worth $42,000 after buying an additional 601 shares during the period. State of Wyoming acquired a new stake in shares of Merus during the fourth quarter valued at approximately $48,000. Wells Fargo & Company MN lifted its holdings in shares of Merus by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 300 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Merus in the fourth quarter worth $60,000. 96.14% of the stock is currently owned by institutional investors and hedge funds.

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.