Merus N.V. $MRUS Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in Merus N.V. by 37.0%, selling 298,815 shares to hold a total of 509,761 shares valued at approximately $21.46 million as of the latest filing.
• Merus reported a significant earnings miss in its latest quarter, with an EPS of ($2.23) against an analyst consensus estimate of ($1.17), indicating ongoing financial challenges for the company.
• Despite recent setbacks, Merus has received favorable ratings from analysts, with an average rating of "Buy" and a consensus price target of $88.50.

T. Rowe Price Investment Management Inc. reduced its position in shares of Merus N.V. (NASDAQ:MRUS - Free Report) by 37.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 509,761 shares of the biotechnology company's stock after selling 298,815 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.74% of Merus worth $21,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Merus by 2,153.6% during the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 603 shares during the last quarter. State of Wyoming purchased a new stake in Merus during the 4th quarter valued at $48,000. Wells Fargo & Company MN raised its holdings in Merus by 27.3% during 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. GF Fund Management CO. LTD. purchased a new stake in Merus during the 4th quarter valued at $60,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Merus by 955.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,794 shares of the biotechnology company's stock valued at $76,000 after buying an additional 1,624 shares during the period. 96.14% of the stock is currently owned by institutional investors.

Merus Price Performance

MRUS stock traded down $0.66 during trading on Friday, hitting $65.44. 166,688 shares of the company traded hands, compared to its average volume of 857,937. The stock's 50-day simple moving average is $61.00 and its 200 day simple moving average is $51.07. The company has a market cap of $4.95 billion, a PE ratio of -11.90 and a beta of 1.09. 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 announced its quarterly earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($1.06). The company 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%. Research analysts expect that Merus N.V. will post -3.85 earnings per share for the current year.

Insider Activity at Merus

In related news, COO Peter B. Silverman sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 82,500 shares of company stock worth $4,586,340 in the last three months. 3.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MRUS has been the topic of several recent research reports. Alliance Global Partners initiated coverage on Merus in a report on Monday. They set a "buy" rating and a $90.00 price target on the stock. Wells Fargo & Company reduced their target price on Merus from $91.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Industrial Alliance Securities set a $90.00 target price on Merus in a research note on Monday. HC Wainwright raised Merus to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, BMO Capital Markets set a $110.00 price target on Merus and gave the stock an "outperform" rating in a research report on Friday, May 23rd. One equities research 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, the company currently has a consensus rating of "Buy" and an average target price of $88.75.

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.