Alyeska Investment Group L.P. Trims Holdings in Merus N.V. $MRUS

Key Points

• Alyeska Investment Group L.P. reduced its stake in Merus N.V. by 50% in the first quarter, holding 68,182 shares valued at approximately $2.87 million after the sale.
• Merus reported a significant earnings miss for the last quarter, with an EPS of ($2.23) compared to the consensus estimate of ($1.17), alongside revenue of $8.83 million against an expected $9.77 million.
• Analysts have set an average target price of $88.75 for Merus N.V., with several firms upgrading their ratings, indicating strong investor interest in the biotechnology firm.

Alyeska Investment Group L.P. cut its holdings in Merus N.V. (NASDAQ:MRUS - Free Report) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,182 shares of the biotechnology company's stock after selling 68,182 shares during the period. Alyeska Investment Group L.P. owned 0.10% of Merus worth $2,870,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Merus by 2,153.6% during the first quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 603 shares in the last quarter. State of Wyoming purchased a new position in Merus during the fourth quarter valued at $48,000. Wells Fargo & Company MN boosted its holdings in shares of Merus by 27.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 300 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Merus in the fourth quarter worth about $60,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Merus by 955.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,794 shares of the biotechnology company's stock worth $76,000 after buying an additional 1,624 shares in the last quarter. Hedge funds and other institutional investors own 96.14% of the company's stock.

Merus Stock Up 2.0%

MRUS traded up $1.36 during trading on Tuesday, reaching $68.55. The company had a trading volume of 519,287 shares, compared to its average volume of 849,819. Merus N.V. has a 52 week low of $33.19 and a 52 week high of $69.20. The stock has a market cap of $5.18 billion, a P/E ratio of -12.46 and a beta of 1.19. The business has a 50 day simple moving average of $62.86 and a 200-day simple moving average of $52.36.

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

Insider Transactions at Merus

In other Merus news, COO Peter B. Silverman sold 25,000 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $60.00, for a total value of $1,500,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 82,500 shares of company stock valued at $4,586,340 over the last ninety days. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MRUS shares. BMO Capital Markets set a $110.00 price target on Merus and gave the company an "outperform" rating in a report on Friday, May 23rd. Wall Street Zen lowered shares of Merus from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Needham & Company LLC reduced their price target on shares of Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Industrial Alliance Securities set a $90.00 price target on shares of Merus in a research note on Monday, August 25th. Finally, Alliance Global Partners started coverage on shares of Merus in a research note on Monday, August 25th. They issued a "buy" rating and a $90.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, Merus has a consensus rating of "Buy" and an average target price of $88.75.

Merus 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.