Polar Capital Holdings Plc Has $71.75 Million Stock Holdings in Merus (NASDAQ:MRUS)

Polar Capital Holdings Plc grew its holdings in Merus (NASDAQ:MRUS - Free Report) by 34.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,706,238 shares of the biotechnology company's stock after purchasing an additional 439,186 shares during the quarter. Polar Capital Holdings Plc owned about 2.49% of Merus worth $71,747,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Boxer Capital Management LLC acquired a new stake in Merus during the fourth quarter worth about $79,895,000. Avoro Capital Advisors LLC grew its position in Merus by 56.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,125,000 shares of the biotechnology company's stock worth $89,356,000 after buying an additional 770,000 shares in the last quarter. Wellington Management Group LLP grew its position in Merus by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 3,497,653 shares of the biotechnology company's stock worth $147,076,000 after buying an additional 610,139 shares in the last quarter. Gilead Sciences Inc. acquired a new stake in Merus during the fourth quarter worth about $19,029,000. Finally, Millennium Management LLC grew its position in Merus by 87.0% during the fourth quarter. Millennium Management LLC now owns 883,565 shares of the biotechnology company's stock worth $37,154,000 after buying an additional 411,184 shares in the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MRUS has been the topic of a number of recent research reports. Guggenheim reissued a "buy" rating and set a $109.00 target price on shares of Merus in a research report on Friday, March 28th. HC Wainwright reissued a "buy" rating and set a $85.00 target price on shares of Merus in a research report on Monday, March 3rd. Piper Sandler initiated coverage on Merus in a research report on Thursday, February 13th. They set an "overweight" rating and a $84.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Merus in a report on Monday. Finally, Bank of America dropped their target price on Merus from $73.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Merus has an average rating of "Buy" and an average price target of $84.54.

Merus Price Performance

Shares of MRUS traded up $1.69 on Tuesday, hitting $43.05. The company's stock had a trading volume of 995,493 shares, compared to its average volume of 723,361. The company has a market capitalization of $2.98 billion, a PE ratio of -10.88 and a beta of 0.94. Merus has a fifty-two week low of $33.19 and a fifty-two week high of $61.61. The company has a 50 day moving average price of $42.80 and a 200 day moving average price of $43.60.

Merus (NASDAQ:MRUS - Get Free Report) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The business had revenue of $26.49 million during 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 EPS for the current year.

About Merus

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.