Octagon Capital Advisors LP Invests $12.95 Million in Merus (NASDAQ:MRUS)

Octagon Capital Advisors LP acquired a new position in shares of Merus (NASDAQ:MRUS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 308,000 shares of the biotechnology company's stock, valued at approximately $12,951,000. Merus accounts for about 2.1% of Octagon Capital Advisors LP's holdings, making the stock its 18th largest holding. Octagon Capital Advisors LP owned about 0.45% of Merus at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MRUS. Harbour Capital Advisors LLC acquired a new position in Merus in the 4th quarter valued at $360,000. Avior Wealth Management LLC bought a new stake in Merus during the fourth quarter valued at $76,000. KBC Group NV lifted its position in shares of Merus by 4,583.6% during the 4th quarter. KBC Group NV now owns 57,234 shares of the biotechnology company's stock valued at $2,407,000 after acquiring an additional 56,012 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Merus by 10.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,517 shares of the biotechnology company's stock valued at $610,000 after buying an additional 1,398 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Merus by 29.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,268 shares of the biotechnology company's stock worth $2,030,000 after purchasing an additional 10,842 shares during the period. Institutional investors and hedge funds own 96.14% of the company's stock.

Merus Stock Performance

Shares of MRUS opened at $42.41 on Tuesday. Merus has a 52 week low of $33.19 and a 52 week high of $61.61. The company's 50 day moving average price is $43.51 and its 200 day moving average price is $44.04. The company has a market capitalization of $2.94 billion, a PE ratio of -10.74 and a beta of 0.94.

Merus (NASDAQ:MRUS - Get Free Report) last released 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 company had revenue of $26.49 million for the quarter, compared to analyst estimates of $7.82 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. On average, equities analysts forecast that Merus will post -3.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on MRUS. Needham & Company LLC restated a "buy" rating and set a $83.00 price target on shares of Merus in a research report on Wednesday, April 9th. Bank of America lowered their price objective on shares of Merus from $73.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective on Merus from $91.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating and set a $85.00 price target on shares of Merus in a research report on Monday, March 3rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Merus in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $85.15.

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.

Want to see what other hedge funds are holding MRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merus (NASDAQ:MRUS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.