Merus (NASDAQ:MRUS) Shares Down 3.1% - What's Next?

Merus (NASDAQ:MRUS - Get Free Report)'s stock price fell 3.1% on Tuesday . The stock traded as low as $53.51 and last traded at $53.44. 414,063 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 732,785 shares. The stock had previously closed at $55.14.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRUS. HC Wainwright reaffirmed a "buy" rating and issued a $85.00 target price on shares of Merus in a report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $75.00 price objective on shares of Merus in a report on Monday, May 19th. Piper Sandler initiated 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. BMO Capital Markets set a $110.00 price objective on shares of Merus and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, William Blair reissued an "outperform" rating on shares of Merus in a report on Monday, April 28th. Fourteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $86.00.

Merus Trading Up 3.3%

The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -13.07 and a beta of 0.94. The firm's 50 day simple moving average is $42.99 and its 200-day simple moving average is $43.52.

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

Institutional Investors Weigh In On Merus

Several institutional investors have recently made changes to their positions in MRUS. Boxer Capital Management LLC purchased a new stake in shares of Merus during the 4th quarter worth $79,895,000. Paradigm Biocapital Advisors LP boosted its position in shares of Merus by 99.4% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 3,369,699 shares of the biotechnology company's stock worth $141,831,000 after buying an additional 1,679,777 shares in the last quarter. Wellington Management Group LLP grew its stake in Merus by 34.9% in the 1st quarter. Wellington Management Group LLP now owns 4,718,172 shares of the biotechnology company's stock valued at $198,588,000 after acquiring an additional 1,220,519 shares during the last quarter. Avoro Capital Advisors LLC grew its stake 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 acquiring an additional 770,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Merus by 51.2% in the first quarter. Westfield Capital Management Co. LP now owns 1,501,220 shares of the biotechnology company's stock valued at $63,186,000 after purchasing an additional 508,063 shares during the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

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.