Voya Investment Management LLC Increases Stock Position in Merus N.V. $MRUS

Key Points

• Voya Investment Management LLC increased its holdings in Merus N.V. by 26.3% during the first quarter, owning 78,280 shares valued at approximately $3.30 million at the end of the reporting period.
• Merus reported earnings per share of ($2.23), significantly missing analysts' expectations, while also revealing revenues of $8.83 million for the quarter.
• Analyst ratings for Merus show a mixed outlook, with one firm lowering the price target to $96.00, while others maintain 'buy' positions with targets up to $110.00.

Voya Investment Management LLC increased its stake in shares of Merus N.V. (NASDAQ:MRUS - Free Report) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,280 shares of the biotechnology company's stock after purchasing an additional 16,280 shares during the quarter. Voya Investment Management LLC owned approximately 0.11% of Merus worth $3,295,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MRUS. Northern Trust Corp increased its position in Merus by 61.2% during the 4th quarter. Northern Trust Corp now owns 76,335 shares of the biotechnology company's stock worth $3,210,000 after purchasing an additional 28,983 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Merus by 12.7% during the 4th quarter. Janus Henderson Group PLC now owns 21,290 shares of the biotechnology company's stock worth $894,000 after acquiring an additional 2,400 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Merus during the 4th quarter worth approximately $84,000. State of Wyoming bought a new stake in Merus during the 4th quarter worth approximately $48,000. Finally, Squarepoint Ops LLC bought a new stake in Merus during the 4th quarter worth approximately $817,000. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRUS has been the topic of a number of research reports. Industrial Alliance Securities set a $90.00 target price on shares of Merus in a report on Monday, August 25th. 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, August 6th. Alliance Global Partners began coverage on shares of Merus in a report on Monday, August 25th. They set a "buy" rating and a $90.00 target price on the stock. Wall Street Zen lowered shares of Merus from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Finally, HC Wainwright raised shares of Merus to a "strong-buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat, Merus presently has an average rating of "Buy" and an average price target of $90.54.

Merus Stock Up 0.5%

MRUS traded up $0.37 during trading on Tuesday, hitting $69.56. 130,731 shares of the company's stock were exchanged, compared to its average volume of 837,849. The business's 50 day moving average is $65.78 and its two-hundred day moving average is $53.94. Merus N.V. has a fifty-two week low of $33.19 and a fifty-two week high of $70.65. The stock has a market cap of $5.26 billion, a P/E ratio of -12.64 and a beta of 1.19.

Merus (NASDAQ:MRUS - Get Free Report) last released 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). 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 analyst estimates of $9.77 million. On average, sell-side analysts forecast that Merus N.V. will post -3.85 earnings per share for the current year.

Insider Activity at Merus

In other news, COO Peter B. Silverman sold 25,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 48,500 shares of company stock valued at $2,792,500 in the last three months. Corporate 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.