Allianz Asset Management GmbH Has $657,000 Stock Position in Merus N.V. (NASDAQ:MRUS)

Key Points

• Allianz Asset Management GmbH increased its stake in Merus N.V. by 34.5%, holding 15,600 shares worth approximately $657,000.
• Merus N.V. reported a loss of $1.40 per share for the most recent quarter, which was below analysts’ expectations of a loss of $1.17 per share.
• Institutional investors own 96.14% of Merus stock, highlighting substantial institutional support.

Allianz Asset Management GmbH grew its holdings in Merus N.V. (NASDAQ:MRUS - Free Report) by 34.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,600 shares of the biotechnology company's stock after acquiring an additional 4,000 shares during the quarter. Allianz Asset Management GmbH's holdings in Merus were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Merus by 2,153.6% during the first quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock worth $27,000 after buying an additional 603 shares in the last quarter. State of Wyoming acquired a new stake in Merus during the fourth quarter worth $48,000. Wells Fargo & Company MN boosted its stake in Merus by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company's stock worth $59,000 after buying an additional 300 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Merus during the fourth quarter worth $60,000. Finally, Lazard Asset Management LLC acquired a new stake in Merus during the fourth quarter worth $84,000. 96.14% of the stock is owned by institutional investors.

Merus Stock Performance

Shares of NASDAQ MRUS traded down $0.68 during midday trading on Friday, reaching $65.56. 664,677 shares of the company traded hands, compared to its average volume of 712,410. The firm has a market cap of $4.54 billion, a PE ratio of -16.07 and a beta of 1.09. The stock's 50-day simple moving average is $56.89 and its 200-day simple moving average is $47.88. Merus N.V. has a 12 month low of $33.19 and a 12 month high of $67.59.

Merus (NASDAQ:MRUS - Get Free Report) last issued 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). Merus had a negative net margin of 506.73% and a negative return on equity of 35.99%. The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $7.82 million. On average, equities research analysts expect that Merus N.V. will post -3.85 EPS for the current year.

Insider Activity

In related news, COO Peter B. Silverman sold 34,000 shares of Merus 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 82,500 shares of company stock valued at $4,586,340 over the last three months. Insiders own 4.57% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets set a $110.00 price target on shares of Merus and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Wells Fargo & Company decreased their price target on shares of Merus from $91.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen downgraded shares of Merus from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Needham & Company LLC reiterated a "buy" rating and set a $75.00 price target on shares of Merus in a research note on Monday, May 19th. Finally, William Blair reissued an "outperform" rating on shares of Merus in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.40.

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.