Samlyn Capital LLC Sells 288,750 Shares of Merus N.V. $MRUS

Key Points

• Samlyn Capital LLC has reduced its stake in Merus N.V. by 10.8%, now holding 2,379,428 shares worth approximately $100.15 million.
• Despite the stake sale, analysts remain optimistic, with HC Wainwright upgrading Merus to a "strong-buy" rating and several others setting price targets around $90.00.
• Merus recently reported earnings per share of -$2.23, significantly below analyst estimates, with revenues falling short of expectations at $8.83 million.

Samlyn Capital LLC decreased its position in Merus N.V. (NASDAQ:MRUS - Free Report) by 10.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,379,428 shares of the biotechnology company's stock after selling 288,750 shares during the period. Merus makes up 1.5% of Samlyn Capital LLC's portfolio, making the stock its 25th largest position. Samlyn Capital LLC owned approximately 3.44% of Merus worth $100,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Merus in the 4th quarter valued at $347,000. US Bancorp DE grew its holdings in shares of Merus by 324.1% in the 1st quarter. US Bancorp DE now owns 2,935 shares of the biotechnology company's stock valued at $124,000 after buying an additional 2,243 shares during the period. GAMMA Investing LLC grew its holdings in shares of Merus by 2,153.6% in the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock valued at $27,000 after buying an additional 603 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Merus by 30.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,800 shares of the biotechnology company's stock valued at $244,000 after buying an additional 1,340 shares during the period. Finally, Wells Fargo & Company MN grew its holdings 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 buying an additional 300 shares during the period. Institutional investors and hedge funds own 96.14% of the company's stock.

Merus Price Performance

NASDAQ:MRUS traded up $1.36 on Tuesday, hitting $68.55. 519,287 shares of the company's stock were exchanged, compared to its average volume of 555,864. The firm has a 50-day moving average price of $63.18 and a 200-day moving average price of $52.47. Merus N.V. has a 52 week low of $33.19 and a 52 week high of $69.20. The company has a market cap of $5.18 billion, a P/E ratio of -12.46 and a beta of 1.19.

Merus (NASDAQ:MRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($1.17) by ($1.06). Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%.The business had revenue of $8.83 million for the quarter, compared to the consensus estimate of $9.77 million. On average, research analysts expect that Merus N.V. will post -3.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MRUS has been the subject of several research analyst reports. Wall Street Zen lowered shares of Merus from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Needham & Company LLC cut their price objective on shares of Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. BMO Capital Markets set a $110.00 price objective on shares of Merus and gave the company an "outperform" rating in a research report on Friday, May 23rd. Industrial Alliance Securities set a $90.00 price objective on shares of Merus in a research report on Monday, August 25th. Finally, HC Wainwright raised shares of Merus to a "strong-buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $88.75.

Insider Buying and Selling

In other Merus news, COO Peter B. Silverman sold 25,000 shares of the business's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $60.00, for a total transaction of $1,500,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 82,500 shares of company stock worth $4,586,340. Insiders own 3.70% of the company's stock.

Merus 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.