Millennium Management LLC Cuts Holdings in Merus N.V. $MRUS

Key Points

• Millennium Management LLC reduced its holdings in Merus N.V. by 33.6%, owning 586,434 shares valued at approximately $24.68 million after selling 297,131 shares in the first quarter.
• Multiple institutional investors increased their stakes in Merus, with Paradigm Biocapital Advisors LP raising their position by 99.4%, now holding shares worth $141.83 million.
• Merus has a consensus rating of "Buy" among analysts, with a target price averaging $88.75, but the company reported a loss of ($2.23) EPS, missing expectations by ($1.06).

Millennium Management LLC trimmed its holdings in shares of Merus N.V. (NASDAQ:MRUS - Free Report) by 33.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 586,434 shares of the biotechnology company's stock after selling 297,131 shares during the quarter. Millennium Management LLC owned 0.85% of Merus worth $24,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MRUS. Paradigm Biocapital Advisors LP increased its position in shares of Merus by 99.4% during the first quarter. Paradigm Biocapital Advisors LP now owns 3,369,699 shares of the biotechnology company's stock valued at $141,831,000 after acquiring an additional 1,679,777 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Merus by 34.9% during the 1st quarter. Wellington Management Group LLP now owns 4,718,172 shares of the biotechnology company's stock valued at $198,588,000 after purchasing an additional 1,220,519 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in Merus by 51.2% during the first quarter. Westfield Capital Management Co. LP now owns 1,501,220 shares of the biotechnology company's stock worth $63,186,000 after buying an additional 508,063 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in Merus by 34.7% during the fourth quarter. Polar Capital Holdings Plc now owns 1,706,238 shares of the biotechnology company's stock worth $71,747,000 after buying an additional 439,186 shares during the last quarter. Finally, Siren L.L.C. increased its holdings in Merus by 33.0% during the first quarter. Siren L.L.C. now owns 1,043,467 shares of the biotechnology company's stock worth $43,920,000 after buying an additional 259,055 shares during the last quarter. 96.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Merus

In related news, COO Peter B. Silverman sold 34,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $52.76, for a total transaction of $1,793,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 82,500 shares of company stock worth $4,586,340. 3.70% of the stock is owned by insiders.

Merus Price Performance

MRUS stock traded up $1.78 during mid-day trading on Wednesday, reaching $68.68. 129,678 shares of the company traded hands, compared to its average volume of 842,629. The company has a market capitalization of $5.19 billion, a P/E ratio of -12.47 and a beta of 1.19. Merus N.V. has a 52-week low of $33.19 and a 52-week high of $70.65. The company has a fifty day moving average price of $64.69 and a 200-day moving average price of $53.25.

Merus (NASDAQ:MRUS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported ($2.23) 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 net margin of 685.64% and a negative return on equity of 50.28%. As a group, analysts forecast that Merus N.V. will post -3.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Merus in a research note on Wednesday. They set an "overweight" rating and a $112.00 price target for the company. Wall Street Zen lowered Merus from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. BMO Capital Markets set a $110.00 target price on Merus and gave the company an "outperform" rating in a research note on Friday, May 23rd. Needham & Company LLC decreased their price objective on Merus from $97.00 to $96.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Industrial Alliance Securities set a $90.00 price objective on Merus in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $90.54.

About Merus

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.