PNC Financial Services Group Inc. Acquires 1,340 Shares of Merus N.V. (NASDAQ:MRUS)

PNC Financial Services Group Inc. increased its holdings in shares of Merus N.V. (NASDAQ:MRUS) by 30.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,800 shares of the biotechnology company’s stock after purchasing an additional 1,340 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Merus were worth $244,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of MRUS. Geode Capital Management LLC increased its stake in Merus by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 52,636 shares of the biotechnology company’s stock worth $2,213,000 after purchasing an additional 540 shares in the last quarter. Wells Fargo & Company MN raised its position in Merus by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 300 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Merus in the 4th quarter valued at approximately $347,000. Avoro Capital Advisors LLC raised its position in Merus by 56.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,125,000 shares of the biotechnology company’s stock valued at $89,356,000 after buying an additional 770,000 shares during the last quarter. Finally, Silverarc Capital Management LLC increased its position in shares of Merus by 7.1% during the 4th quarter. Silverarc Capital Management LLC now owns 680,845 shares of the biotechnology company’s stock worth $28,630,000 after purchasing an additional 45,406 shares during the last quarter. 96.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MRUS. Needham & Company LLC lowered their price target on Merus from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company lowered their price target on Merus from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. HC Wainwright raised Merus to a “strong-buy” rating in a research report on Wednesday, August 6th. BMO Capital Markets set a $110.00 price target on Merus and gave the stock an “outperform” rating in a research report on Friday, May 23rd. Finally, Wall Street Zen lowered Merus from a “hold” rating to a “sell” rating in a research report on Sunday, July 20th. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.50.

Merus Price Performance

MRUS opened at $67.25 on Friday. The business has a fifty day simple moving average of $58.88 and a 200 day simple moving average of $49.58. The company has a market capitalization of $5.09 billion, a PE ratio of -12.23 and a beta of 1.09. Merus N.V. has a 1 year low of $33.19 and a 1 year high of $67.59.

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

Insider Transactions at Merus

In related news, COO Peter B. Silverman sold 25,000 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $60.00, for a total value of $1,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 82,500 shares of company stock valued at $4,586,340. Insiders own 3.70% of the company’s stock.

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.