Baker BROS. Advisors LP Sells 226,500 Shares of Merus N.V. $MRUS

Key Points

• Baker BROS. Advisors LP has decreased its stake in Merus N.V. by 50.3%, now holding 223,500 shares valued at approximately $9.4 million.
• Merus reported a Q2 earnings miss with an EPS of ($2.23), falling short of the analyst expectations of ($1.17), leading to a negative net margin of 685.64%.
• Analysts have generally rated Merus positively, with a consensus price target of $88.75 and several firms recently issuing buy ratings.

Baker BROS. Advisors LP lowered its position in Merus N.V. (NASDAQ:MRUS - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 223,500 shares of the biotechnology company's stock after selling 226,500 shares during the period. Baker BROS. Advisors LP owned 0.32% of Merus worth $9,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MRUS. Wells Fargo & Company MN boosted its holdings in Merus by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 300 shares in the last quarter. Raymond James Financial Inc. bought a new position in Merus in the fourth quarter worth approximately $347,000. Tudor Investment Corp ET AL bought a new position in Merus in the fourth quarter worth approximately $213,000. Northern Trust Corp raised its stake in shares of Merus by 61.2% in the fourth quarter. Northern Trust Corp now owns 76,335 shares of the biotechnology company's stock worth $3,210,000 after purchasing an additional 28,983 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Merus in the fourth quarter worth approximately $5,734,000. Institutional investors own 96.14% of the company's stock.

Merus Trading Down 0.4%

Shares of MRUS opened at $65.84 on Tuesday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -11.97 and a beta of 1.19. The stock has a 50 day moving average of $61.52 and a 200 day moving average of $51.58. Merus N.V. has a 12 month low of $33.19 and a 12 month high of $69.20.

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

Analyst Ratings Changes

Several analysts have recently commented on the company. BMO Capital Markets set a $110.00 price objective on Merus and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Alliance Global Partners assumed coverage on Merus in a research note on Monday, August 25th. They issued a "buy" rating and a $90.00 price objective for the company. Industrial Alliance Securities set a $90.00 price objective on Merus in a research note on Monday, August 25th. HC Wainwright raised Merus to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their price objective on Merus from $91.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $88.75.

Insider Activity at Merus

In related news, COO Peter B. Silverman sold 25,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 82,500 shares of company stock worth $4,586,340 over the last three months. Company 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.

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