TD Asset Management Inc Sells 3,982 Shares of Merus N.V. (NASDAQ:MRUS)

Key Points

• TD Asset Management Inc reduced its stake in Merus N.V. (NASDAQ:MRUS) by 5.3% in the first quarter, now holding 71,258 shares valued at approximately $2,999,000.
• Insider trading shows COO Peter B. Silverman sold 25,000 shares for a total of $1.5 million, contributing to a total insider sale of 82,500 shares worth over $4.5 million in the last quarter.
• Despite a recent decline in EPS, Merus reported $26.49 million in revenue for the quarter, significantly exceeding analysts' expectations of $7.82 million.

TD Asset Management Inc lowered its position in Merus N.V. (NASDAQ:MRUS - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,258 shares of the biotechnology company's stock after selling 3,982 shares during the quarter. TD Asset Management Inc owned approximately 0.10% of Merus worth $2,999,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. FMR LLC increased its position in Merus by 0.4% during the fourth quarter. FMR LLC now owns 6,899,521 shares of the biotechnology company's stock worth $290,125,000 after acquiring an additional 25,595 shares during the period. Avoro Capital Advisors LLC increased its holdings in Merus by 56.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,125,000 shares of the biotechnology company's stock valued at $89,356,000 after buying an additional 770,000 shares during the period. Boxer Capital Management LLC bought a new position in Merus in the 4th quarter valued at about $79,895,000. Polar Capital Holdings Plc increased its holdings in Merus by 34.7% in the 4th quarter. Polar Capital Holdings Plc now owns 1,706,238 shares of the biotechnology company's stock valued at $71,747,000 after buying an additional 439,186 shares during the period. Finally, Woodline Partners LP increased its holdings in Merus by 0.3% in the 4th quarter. Woodline Partners LP now owns 1,188,518 shares of the biotechnology company's stock valued at $49,977,000 after buying an additional 3,593 shares during the period. Institutional investors and hedge funds own 96.14% of the company's stock.

Insider Transactions at Merus

In other Merus news, COO Peter B. Silverman sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $60.00, for a total value of $1,500,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 82,500 shares of company stock valued at $4,586,340 in the last three months. Corporate insiders own 4.57% of the company's stock.

Merus Price Performance

Shares of MRUS stock traded down $3.72 on Wednesday, hitting $63.73. The stock had a trading volume of 596,853 shares, compared to its average volume of 889,077. Merus N.V. has a 1 year low of $33.19 and a 1 year high of $67.59. The firm has a market capitalization of $4.41 billion, a P/E ratio of -15.61 and a beta of 1.09. The company's 50 day moving average price is $57.46 and its 200-day moving average price is $48.20.

Merus (NASDAQ:MRUS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $8.83 million during the quarter, compared to the consensus estimate of $9.77 million. Merus had a negative net margin of 506.73% and a negative return on equity of 35.99%. On average, equities analysts forecast that Merus N.V. will post -3.85 EPS for the current year.

Wall Street Analyst Weigh In

MRUS has been the topic of a number of research reports. Needham & Company LLC reduced their target price on shares of Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Wednesday. 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 research note on Thursday, May 8th. BMO Capital Markets set a $110.00 price target on shares of Merus and gave the company an "outperform" rating in a research report on Friday, May 23rd. William Blair reaffirmed an "outperform" rating on shares of Merus in a report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of Merus from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.50.

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.