Merus N.V. $MRUS Shares Acquired by Atle Fund Management AB

Key Points

• Atle Fund Management AB increased its stake in Merus N.V. by 69.7% in Q2, now holding nearly 60,000 shares worth approximately $3.15 million.
• Merus reported a net loss of $2.23 per share in its most recent earnings report, missing the consensus estimate and reflecting a negative net margin of around 685.64%.
• Several analysts have set a target price for Merus shares, including Barclays' estimate of $112.00 while maintaining a consensus rating of "Buy".

Atle Fund Management AB boosted its position in shares of Merus N.V. (NASDAQ:MRUS - Free Report) by 69.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,889 shares of the biotechnology company's stock after acquiring an additional 24,597 shares during the quarter. Merus accounts for approximately 1.3% of Atle Fund Management AB's investment portfolio, making the stock its 25th biggest position. Atle Fund Management AB owned 0.09% of Merus worth $3,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Paradigm Biocapital Advisors LP lifted its holdings in Merus by 99.4% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 3,369,699 shares of the biotechnology company's stock worth $141,831,000 after buying an additional 1,679,777 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Merus by 34.9% during the first quarter. Wellington Management Group LLP now owns 4,718,172 shares of the biotechnology company's stock worth $198,588,000 after acquiring an additional 1,220,519 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Merus by 51.2% during the first quarter. Westfield Capital Management Co. LP now owns 1,501,220 shares of the biotechnology company's stock worth $63,186,000 after acquiring an additional 508,063 shares during the period. Siren L.L.C. raised its stake in shares of Merus by 33.0% in the first quarter. Siren L.L.C. now owns 1,043,467 shares of the biotechnology company's stock valued at $43,920,000 after acquiring an additional 259,055 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in Merus by 17.8% in the first quarter. Woodline Partners LP now owns 1,400,171 shares of the biotechnology company's stock valued at $58,933,000 after purchasing an additional 211,653 shares during the period. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Merus Trading Down 1.6%

Shares of MRUS traded down $1.09 during mid-day trading on Tuesday, hitting $68.10. 359,489 shares of the company's stock were exchanged, compared to its average volume of 839,733. Merus N.V. has a fifty-two week low of $33.19 and a fifty-two week high of $70.65. The business's 50 day moving average is $65.78 and its two-hundred day moving average is $53.94. The firm has a market capitalization of $5.15 billion, a P/E ratio of -12.39 and a beta of 1.19.

Merus (NASDAQ:MRUS - Get Free Report) last issued 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 company had revenue of $8.83 million during the quarter, compared to analyst estimates of $9.77 million. Merus had a negative net margin of 685.64% and a negative return on equity of 50.28%. On average, equities research analysts forecast that Merus N.V. will post -3.85 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Needham & Company LLC cut their price target on Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. HC Wainwright upgraded shares of Merus to a "strong-buy" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Merus from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Industrial Alliance Securities set a $90.00 price target on shares of Merus in a report on Monday, August 25th. Finally, Alliance Global Partners initiated coverage on shares of Merus in a report on Monday, August 25th. They issued a "buy" rating and a $90.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $90.54.

Insider Activity at Merus

In other news, COO Peter B. Silverman sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $60.00, for a total transaction of $1,500,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 48,500 shares of company stock worth $2,792,500 in the last three months. 3.70% of the stock is owned by corporate insiders.

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.