Harbor Capital Advisors Inc. Makes New Investment in Merus (NASDAQ:MRUS)

Harbor Capital Advisors Inc. acquired a new stake in shares of Merus (NASDAQ:MRUS) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 42,287 shares of the biotechnology company’s stock, valued at approximately $2,113,000. Harbor Capital Advisors Inc. owned approximately 0.06% of Merus as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Merus during the first quarter valued at approximately $72,000. nVerses Capital LLC lifted its stake in shares of Merus by 750.0% during the 3rd 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 in the last quarter. US Bancorp DE purchased a new position in shares of Merus during the 3rd quarter valued at $103,000. SG Americas Securities LLC bought a new position in Merus in the 1st quarter worth $108,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Merus by 24.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company’s stock worth $118,000 after buying an additional 489 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MRUS. Guggenheim upped their price objective on Merus from $93.00 to $111.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group raised shares of Merus to a “strong-buy” rating in a report on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $67.00 target price on shares of Merus in a report on Thursday, July 25th. UBS Group initiated coverage on shares of Merus in a report on Thursday, October 24th. They issued a “buy” rating and a $72.00 price target on the stock. Finally, Lifesci Capital raised shares of Merus to a “strong-buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Merus currently has an average rating of “Buy” and a consensus price target of $86.70.

Merus Price Performance

Shares of NASDAQ MRUS opened at $51.23 on Tuesday. Merus has a 1-year low of $22.01 and a 1-year high of $61.61. The business’s 50 day moving average is $50.84 and its two-hundred day moving average is $51.44. The stock has a market capitalization of $3.49 billion, a P/E ratio of -12.97 and a beta of 1.12.

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.