Merus (NASDAQ:MRUS) Sets New 12-Month High – Still a Buy?

Shares of Merus N.V. (NASDAQ:MRUS) hit a new 52-week high during trading on Tuesday . The company traded as high as $96.98 and last traded at $96.92, with a volume of 1304104 shares trading hands. The stock had previously closed at $96.82.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MRUS shares. BMO Capital Markets restated a “market perform” rating and set a $97.00 price objective on shares of Merus in a report on Friday, October 31st. UBS Group downgraded shares of Merus from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $72.00 to $97.00 in a research report on Tuesday, September 30th. Industrial Alliance Securities set a $90.00 price target on shares of Merus in a research report on Monday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Merus in a research note on Wednesday, October 8th. Finally, Guggenheim reissued a “neutral” rating and issued a $97.00 price objective (down from $109.00) on shares of Merus in a research note on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $93.56.

Merus Stock Performance

The stock has a market cap of $7.35 billion, a PE ratio of -18.29 and a beta of 1.06. The business has a 50 day moving average price of $95.47 and a two-hundred day moving average price of $74.97.

Insider Transactions at Merus

In other news, VP Harry Shuman sold 8,300 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $95.92, for a total transaction of $796,136.00. Following the completion of the sale, the vice president directly owned 11,002 shares of the company’s stock, valued at $1,055,311.84. This trade represents a 43.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Merus

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Merus by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,674 shares of the biotechnology company’s stock valued at $141,000 after acquiring an additional 362 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Merus by 66.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 26,000 shares of the biotechnology company’s stock worth $1,368,000 after purchasing an additional 10,400 shares during the period. Atle Fund Management AB lifted its stake in Merus by 69.7% in the second quarter. Atle Fund Management AB now owns 59,889 shares of the biotechnology company’s stock valued at $3,150,000 after purchasing an additional 24,597 shares during the last quarter. Voya Investment Management LLC grew its holdings in Merus by 26.3% during the first quarter. Voya Investment Management LLC now owns 78,280 shares of the biotechnology company’s stock valued at $3,295,000 after purchasing an additional 16,280 shares during the period. Finally, US Bancorp DE increased its position in Merus by 324.1% in the first quarter. US Bancorp DE now owns 2,935 shares of the biotechnology company’s stock worth $124,000 after buying an additional 2,243 shares during the last quarter. Institutional investors own 96.14% of the company’s stock.

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.