Merus (NASDAQ:MRUS) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB cut its stake in shares of Merus (NASDAQ:MRUS) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,500 shares of the biotechnology company’s stock after selling 5,000 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Merus were worth $3,133,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Merus by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 300 shares during the period. Avior Wealth Management LLC purchased a new stake in Merus during the fourth quarter valued at about $76,000. MML Investors Services LLC acquired a new position in shares of Merus in the third quarter worth about $206,000. Gordian Capital Singapore Pte Ltd increased its position in shares of Merus by 10.4% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 5,000 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 470 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Merus by 10.9% in the fourth quarter. HighTower Advisors LLC now owns 8,020 shares of the biotechnology company’s stock worth $337,000 after acquiring an additional 789 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on MRUS shares. Citigroup raised their price objective on shares of Merus from $89.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Guggenheim reaffirmed a “buy” rating and issued a $109.00 target price on shares of Merus in a research report on Friday, March 28th. William Blair reissued an “outperform” rating on shares of Merus in a research report on Friday, February 28th. Wells Fargo & Company started coverage on Merus in a research report on Friday, February 7th. They set an “overweight” rating and a $91.00 price objective for the company. Finally, Piper Sandler initiated coverage on Merus in a research note on Thursday, February 13th. They set an “overweight” rating and a $84.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Merus currently has an average rating of “Buy” and an average target price of $85.31.

Merus Trading Down 8.7 %

Merus stock opened at $38.11 on Friday. Merus has a 1-year low of $36.46 and a 1-year high of $61.61. The firm’s fifty day simple moving average is $44.02 and its 200-day simple moving average is $45.77. The company has a market capitalization of $2.63 billion, a P/E ratio of -9.65 and a beta of 1.02.

Merus (NASDAQ:MRUS) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.48. The company had revenue of $9.14 million for the quarter, compared to analyst estimates of $10.57 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. On average, equities research analysts predict that Merus will post -3.85 earnings per share for the current year.

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.