Bank of America Corp DE Lowers Holdings in Merus (NASDAQ:MRUS)

Bank of America Corp DE reduced its position in shares of Merus (NASDAQ:MRUS - Free Report) by 40.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,805 shares of the biotechnology company's stock after selling 26,216 shares during the period. Bank of America Corp DE owned 0.06% of Merus worth $1,590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boxer Capital Management LLC bought a new position in shares of Merus during the 4th quarter worth approximately $79,895,000. Avoro Capital Advisors LLC grew its holdings in shares of Merus by 56.8% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,125,000 shares of the biotechnology company's stock valued at $89,356,000 after acquiring an additional 770,000 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Merus by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 3,497,653 shares of the biotechnology company's stock valued at $147,076,000 after acquiring an additional 610,139 shares during the last quarter. Gilead Sciences Inc. bought a new stake in Merus during the fourth quarter worth $19,029,000. Finally, Artia Global Partners LP lifted its holdings in Merus by 478.6% during the fourth quarter. Artia Global Partners LP now owns 463,840 shares of the biotechnology company's stock worth $19,504,000 after acquiring an additional 383,669 shares during the period. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Merus in a research report on Monday, April 28th. BMO Capital Markets set a $110.00 price objective on shares of Merus and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Piper Sandler began coverage on shares of Merus in a research note on Thursday, February 13th. They issued an "overweight" rating and a $84.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $75.00 price target on shares of Merus in a research note on Monday, May 19th. Finally, Wells Fargo & Company lowered their price target on shares of Merus from $91.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Merus has a consensus rating of "Buy" and a consensus price target of $85.83.

Merus Price Performance

Shares of NASDAQ:MRUS traded up $0.20 during trading on Friday, hitting $56.21. 761,871 shares of the company were exchanged, compared to its average volume of 749,067. Merus has a 52-week low of $33.19 and a 52-week high of $62.98. The stock has a 50 day moving average of $44.46 and a 200 day moving average of $43.86. The company has a market cap of $3.89 billion, a PE ratio of -14.23 and a beta of 0.94.

Merus (NASDAQ:MRUS - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.23). The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $7.82 million. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. Sell-side analysts forecast that Merus will post -3.85 EPS for the current fiscal year.

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.