Polar Asset Management Partners Inc. Buys New Position in Merus (NASDAQ:MRUS)

Polar Asset Management Partners Inc. purchased a new position in Merus (NASDAQ:MRUS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 31,354 shares of the biotechnology company's stock, valued at approximately $1,318,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Merus in the 4th quarter worth about $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Merus by 17.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,744 shares of the biotechnology company's stock valued at $4,152,000 after buying an additional 14,544 shares during the last quarter. Woodline Partners LP boosted its position in shares of Merus by 0.3% during the fourth quarter. Woodline Partners LP now owns 1,188,518 shares of the biotechnology company's stock worth $49,977,000 after acquiring an additional 3,593 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Merus during the fourth quarter worth $817,000. Finally, Wexford Capital LP raised its position in Merus by 26.2% in the 4th quarter. Wexford Capital LP now owns 40,386 shares of the biotechnology company's stock worth $1,698,000 after purchasing an additional 8,386 shares during the period. 96.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Merus from $91.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $75.00 price target on shares of Merus in a report on Monday, May 19th. HC Wainwright reissued a "buy" rating and issued a $85.00 price target on shares of Merus in a report on Monday, March 3rd. Guggenheim restated a "buy" rating and set a $109.00 price target on shares of Merus in a research note on Friday, March 28th. Finally, Piper Sandler started coverage on shares of Merus in a report on Thursday, February 13th. They set an "overweight" rating and a $84.00 price objective on the stock. Fourteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Merus presently has an average rating of "Buy" and an average price target of $86.00.

Merus Stock Performance

NASDAQ MRUS traded up $0.70 during trading on Friday, reaching $56.07. 1,803,570 shares of the company's stock were exchanged, compared to its average volume of 744,208. The stock has a market cap of $3.88 billion, a P/E ratio of -14.19 and a beta of 0.94. Merus has a 1 year low of $33.19 and a 1 year high of $61.28. The company has a 50 day moving average price of $43.12 and a two-hundred day moving average price of $43.53.

Merus (NASDAQ:MRUS - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The firm had revenue of $26.49 million for the quarter, compared to analyst estimates of $7.82 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. Research analysts forecast that Merus will post -3.85 EPS for the current fiscal 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.