Driehaus Capital Management LLC Sells 26,188 Shares of Merus N.V. $MRUS

Key Points

• Driehaus Capital Management LLC reduced its stake in Merus N.V. by 2.0%, holding a total of 1,254,149 shares worth approximately $52.79 million at the end of the quarter.
• Analysts have set the average price target for Merus stock at $88.75, with 11
• Merus reported an earnings miss with a loss of ($2.23) EPS for the last quarter, falling short of the consensus estimate of ($1.17).

Driehaus Capital Management LLC decreased its position in shares of Merus N.V. (NASDAQ:MRUS - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,254,149 shares of the biotechnology company's stock after selling 26,188 shares during the period. Driehaus Capital Management LLC owned about 1.81% of Merus worth $52,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Merus by 2,153.6% during the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock worth $27,000 after acquiring an additional 603 shares in the last quarter. State of Wyoming acquired a new stake in shares of Merus during the 4th quarter worth approximately $48,000. Wells Fargo & Company MN boosted its position 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 worth $59,000 after acquiring an additional 300 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Merus during the 4th quarter worth approximately $60,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Merus by 955.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,794 shares of the biotechnology company's stock worth $76,000 after acquiring an additional 1,624 shares in the last quarter. Institutional investors and hedge funds own 96.14% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRUS. Industrial Alliance Securities set a $90.00 price target on shares of Merus in a research report on Monday, August 25th. Alliance Global Partners began coverage on shares of Merus in a research report on Monday, August 25th. They issued a "buy" rating and a $90.00 target price on the stock. Wall Street Zen lowered shares of Merus from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Wells Fargo & Company cut their target price on shares of Merus from $91.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Needham & Company LLC cut their target price 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. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat, Merus currently has a consensus rating of "Buy" and an average target price of $88.75.

Merus Stock Performance

Shares of NASDAQ:MRUS traded up $0.47 during mid-day trading on Wednesday, reaching $66.77. 245,913 shares of the company's stock were exchanged, compared to its average volume of 855,651. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of -12.08 and a beta of 1.19. The business's fifty day moving average price is $61.76 and its 200-day moving average price is $51.68. Merus N.V. has a twelve month low of $33.19 and a twelve 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 analyst estimates of $9.77 million. Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%. Analysts predict that Merus N.V. will post -3.85 EPS for the current fiscal year.

Insider Transactions at Merus

In related news, COO Peter B. Silverman sold 34,000 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $52.76, for a total value of $1,793,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 82,500 shares of company stock valued at $4,586,340 in the last quarter. 3.70% of the stock is owned by insiders.

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.