Traders Buy High Volume of Merus Call Options (NASDAQ:MRUS)

Merus (NASDAQ:MRUS - Get Free Report) saw unusually large options trading activity on Thursday. Traders acquired 5,083 call options on the stock. This represents an increase of 1,320% compared to the average volume of 358 call options.

Merus Stock Performance

NASDAQ MRUS traded down $3.16 during trading on Tuesday, hitting $51.99. The stock had a trading volume of 1,262,935 shares, compared to its average volume of 736,060. Merus has a 12 month low of $33.19 and a 12 month high of $61.28. The company's 50-day moving average price is $42.88 and its two-hundred day moving average price is $43.42. The company has a market capitalization of $3.60 billion, a PE ratio of -13.26 and a beta of 0.94.

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

Institutional Investors Weigh In On Merus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boxer Capital Management LLC acquired a new position in shares of Merus during the 4th quarter worth about $79,895,000. Paradigm Biocapital Advisors LP increased its position in shares of Merus by 99.4% in the first quarter. Paradigm Biocapital Advisors LP now owns 3,369,699 shares of the biotechnology company's stock valued at $141,831,000 after acquiring an additional 1,679,777 shares during the last quarter. Wellington Management Group LLP raised its holdings in Merus by 34.9% during the first quarter. Wellington Management Group LLP now owns 4,718,172 shares of the biotechnology company's stock worth $198,588,000 after acquiring an additional 1,220,519 shares in the last quarter. Avoro Capital Advisors LLC boosted 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 valued at $89,356,000 after purchasing an additional 770,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in 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 in the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MRUS shares. Piper Sandler assumed coverage on shares of Merus in a report on Thursday, February 13th. They issued an "overweight" rating and a $84.00 price target for the company. William Blair reiterated an "outperform" rating on shares of Merus in a report on Monday, April 28th. Needham & Company LLC restated a "buy" rating and issued a $75.00 price target on shares of Merus in a report on Monday, May 19th. Wells Fargo & Company cut their price objective on Merus from $91.00 to $89.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Guggenheim reiterated a "buy" rating and issued a $109.00 price objective on shares of Merus in a research report on Friday, March 28th. Fourteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $86.00.

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.