Parkman Healthcare Partners LLC Lowers Stock Holdings in Merus N.V. $MRUS

Key Points

• Parkman Healthcare Partners LLC has reduced its stake in Merus N.V. by 38.2%, now owning 28,230 shares valued at $1,188,000 after selling 17,450 shares in the first quarter.
• Merus reported a loss of $2.23 EPS in its latest quarterly earnings, missing estimates, and had a revenue of $8.83 million compared to projected figures of $9.77 million.
• Despite recent institutional activity and a positive consensus rating, several analysts have set target prices for Merus between $90.00 and $110.00, indicating potential growth and investment interest.

Parkman Healthcare Partners LLC reduced its stake in Merus N.V. (NASDAQ:MRUS - Free Report) by 38.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,230 shares of the biotechnology company's stock after selling 17,450 shares during the quarter. Parkman Healthcare Partners LLC's holdings in Merus were worth $1,188,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MRUS. Wells Fargo & Company MN grew its stake in shares of Merus by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 300 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Merus in the 4th quarter valued at approximately $347,000. Tudor Investment Corp ET AL acquired a new stake in shares of Merus in the 4th quarter valued at approximately $213,000. Northern Trust Corp lifted its holdings in shares of Merus by 61.2% in the 4th quarter. Northern Trust Corp now owns 76,335 shares of the biotechnology company's stock valued at $3,210,000 after buying an additional 28,983 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Merus by 0.4% in the 4th quarter. Deutsche Bank AG now owns 113,056 shares of the biotechnology company's stock valued at $4,754,000 after buying an additional 416 shares during the period. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Merus Stock Performance

Shares of MRUS stock opened at $67.47 on Friday. The stock has a fifty day moving average price of $62.57 and a 200 day moving average price of $52.14. The stock has a market cap of $5.10 billion, a PE ratio of -12.27 and a beta of 1.19. Merus N.V. has a 1 year low of $33.19 and a 1 year high of $69.20.

Merus (NASDAQ:MRUS - Get Free Report) last issued 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 analyst estimates of $9.77 million. Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%. As a group, equities research analysts predict that Merus N.V. will post -3.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MRUS shares. Needham & Company LLC dropped their price objective on Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Alliance Global Partners started coverage on Merus in a report on Monday, August 25th. They set a "buy" rating and a $90.00 price objective on the stock. Industrial Alliance Securities set a $90.00 price objective on Merus in a report on Monday, August 25th. BMO Capital Markets set a $110.00 price objective on Merus and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, HC Wainwright raised Merus to a "strong-buy" rating in a report on Wednesday, August 6th. One 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, the stock presently has a consensus rating of "Buy" and an average target price of $88.75.

Insider Buying and Selling at Merus

In related news, COO Peter B. Silverman sold 34,000 shares of the stock in a transaction on 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 document filed with the SEC, which is available at this hyperlink. Insiders sold 82,500 shares of company stock valued at $4,586,340 over the last ninety days. Insiders own 3.70% of the company's stock.

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.

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