Merus (NASDAQ:MRUS) Position Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Merus (NASDAQ:MRUS) by 24.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,467 shares of the biotechnology company’s stock after buying an additional 489 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Merus were worth $118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Merus during the first quarter worth $72,000. nVerses Capital LLC lifted its stake in shares of Merus by 750.0% in the third quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 1,500 shares during the period. SG Americas Securities LLC bought a new stake in shares of Merus in the first quarter valued at about $108,000. Farallon Capital Management LLC bought a new position in Merus during the second quarter worth about $237,000. Finally, ProShare Advisors LLC bought a new position in Merus during the second quarter worth about $242,000. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MRUS shares. UBS Group started coverage on shares of Merus in a research note on Thursday, October 24th. They issued a “buy” rating and a $72.00 target price for the company. Canaccord Genuity Group raised shares of Merus to a “strong-buy” rating in a report on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Merus in a report on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $67.00 target price on shares of Merus in a report on Thursday, July 25th. Finally, Guggenheim lifted their target price on shares of Merus from $93.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $86.70.

Merus Stock Up 1.8 %

Shares of MRUS stock opened at $51.23 on Tuesday. Merus has a 12-month low of $22.01 and a 12-month high of $61.61. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -12.97 and a beta of 1.12. The firm has a fifty day moving average of $50.84 and a 200-day moving average of $51.44.

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.