Novo Holdings A S bought a new position in shares of Merus (NASDAQ:MRUS – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 675,000 shares of the biotechnology company’s stock, valued at approximately $39,940,000. Merus accounts for about 2.0% of Novo Holdings A S’s investment portfolio, making the stock its 16th largest holding. Novo Holdings A S owned approximately 1.15% of Merus at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Merus during the 1st quarter valued at approximately $53,377,000. Marshall Wace LLP increased its stake in Merus by 813.3% during the second quarter. Marshall Wace LLP now owns 957,952 shares of the biotechnology company’s stock worth $56,682,000 after acquiring an additional 853,060 shares during the last quarter. Logos Global Management LP purchased a new stake in Merus in the second quarter valued at $50,294,000. Avoro Capital Advisors LLC lifted its stake in shares of Merus by 52.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 1,355,000 shares of the biotechnology company’s stock valued at $80,175,000 after purchasing an additional 466,112 shares during the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Merus during the 1st quarter worth $20,492,000. 96.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have commented on MRUS. Bank of America reaffirmed a “buy” rating and issued a $76.00 target price on shares of Merus in a research report on Tuesday, June 25th. BMO Capital Markets increased their price objective on shares of Merus from $84.00 to $91.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. Needham & Company LLC dropped their target price on shares of Merus from $92.00 to $85.00 and set a “buy” rating for the company in a report on Monday, August 5th. Truist Financial upped their price target on Merus from $69.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Stifel Nicolaus lifted their price objective on Merus from $90.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $80.20.
Merus Price Performance
MRUS opened at $47.74 on Monday. The business has a fifty day moving average price of $51.29 and a 200 day moving average price of $50.01. Merus has a 12 month low of $19.81 and a 12 month high of $61.61. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -17.23 and a beta of 1.12.
Merus (NASDAQ:MRUS – Get Free Report) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.05). Merus had a negative return on equity of 36.33% and a negative net margin of 476.41%. The firm had revenue of $7.33 million for the quarter, compared to analysts’ expectations of $9.64 million. On average, research analysts anticipate that Merus will post -3.27 earnings per share for the current year.
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.
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