Logos Global Management LP Invests $50.29 Million in Merus (NASDAQ:MRUS)

Logos Global Management LP acquired a new position in shares of Merus (NASDAQ:MRUS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 850,000 shares of the biotechnology company’s stock, valued at approximately $50,294,000. Merus makes up 4.0% of Logos Global Management LP’s holdings, making the stock its 6th biggest holding. Logos Global Management LP owned about 1.45% of Merus at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MRUS. Great Point Partners LLC acquired a new stake in shares of Merus in the fourth quarter valued at $550,000. BNP Paribas Financial Markets boosted its holdings in shares of Merus by 63.8% in the 1st quarter. BNP Paribas Financial Markets now owns 102,885 shares of the biotechnology company’s stock valued at $4,633,000 after buying an additional 40,060 shares in the last quarter. Trexquant Investment LP boosted its stake in Merus by 138.4% in the fourth quarter. Trexquant Investment LP now owns 40,489 shares of the biotechnology company’s stock valued at $1,113,000 after acquiring an additional 23,503 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Merus during the fourth quarter worth about $1,320,000. Finally, Avoro Capital Advisors LLC increased its position in shares of Merus by 100.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 888,888 shares of the biotechnology company’s stock worth $24,444,000 after purchasing an additional 444,444 shares in the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.

Wall Street Analyst Weigh In

MRUS has been the subject of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $67.00 price objective on shares of Merus in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price objective on shares of Merus from $90.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Citigroup upped their price objective on shares of Merus from $70.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Canaccord Genuity Group raised shares of Merus to a “strong-buy” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC cut their price target on shares of Merus from $92.00 to $85.00 and set a “buy” rating for the company in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, ten have issued 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 an average price target of $80.20.

Insider Transactions at Merus

In related news, COO Peter B. Silverman sold 10,000 shares of Merus stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.57% of the stock is currently owned by insiders.

Merus Stock Down 3.8 %

Shares of MRUS opened at $47.77 on Tuesday. Merus has a 12 month low of $19.81 and a 12 month high of $61.61. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -17.25 and a beta of 1.12. The company has a 50-day moving average price of $52.00 and a two-hundred day moving average price of $49.97.

Merus (NASDAQ:MRUS) last announced its earnings results on Thursday, August 1st. The biotechnology company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.05). The business had revenue of $7.33 million during the quarter, compared to analyst estimates of $9.64 million. Merus had a negative net margin of 476.41% and a negative return on equity of 36.33%. Equities research analysts expect that Merus will post -3.27 EPS for the current fiscal year.

Merus 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.