Boothbay Fund Management LLC Increases Stock Position in Merus N.V. $MRUS

Key Points

• Boothbay Fund Management LLC has increased its stake in Merus N.V. by 100%, now owning 160,000 shares valued at approximately $6.73 million.
• Several hedge funds have also significantly boosted their holdings in Merus, including Paradigm Biocapital Advisors LP, which raised its position by 99.4% to nearly 3.37 million shares valued at $141.8 million.
• Merus reported a disappointing earnings result, with an EPS of ($2.23) compared to a consensus estimate of ($1.17), and revenue of $8.83 million falling short of the expected $9.77 million.

Boothbay Fund Management LLC increased its position in shares of Merus N.V. (NASDAQ:MRUS - Free Report) by 100.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160,000 shares of the biotechnology company's stock after buying an additional 80,000 shares during the period. Boothbay Fund Management LLC owned 0.23% of Merus worth $6,734,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC cut their price target on shares of Merus from $97.00 to $96.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. HC Wainwright raised Merus to a "strong-buy" rating in a report on Wednesday, August 6th. Industrial Alliance Securities set a $90.00 target price on shares of Merus in a research note on Monday, August 25th. Alliance Global Partners started coverage on Merus in a research note on Monday, August 25th. They issued a "buy" rating and a $90.00 price target on the stock. Finally, BMO Capital Markets set a $110.00 target price on shares of Merus and gave the company an "outperform" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $88.75.

Insider Activity

In other news, COO Peter B. Silverman sold 34,000 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $52.76, for a total value of $1,793,840.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 82,500 shares of company stock worth $4,586,340. Corporate insiders own 3.70% of the company's stock.

Merus Stock Performance

Shares of NASDAQ:MRUS traded up $0.11 during trading hours on Tuesday, reaching $67.30. The stock had a trading volume of 275,226 shares, compared to its average volume of 848,390. Merus N.V. has a 1 year low of $33.19 and a 1 year high of $69.20. The firm's 50 day moving average is $62.86 and its 200-day moving average is $52.36. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -12.21 and a beta of 1.19.

Merus (NASDAQ:MRUS - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $8.83 million for the quarter, compared to analysts' expectations of $9.77 million. Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%. Analysts forecast that Merus N.V. will post -3.85 EPS for the current 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.