Avoro Capital Advisors LLC Increases Stake in Merus (NASDAQ:MRUS)

Avoro Capital Advisors LLC raised its position in shares of Merus (NASDAQ:MRUS) by 52.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,355,000 shares of the biotechnology company’s stock after purchasing an additional 466,112 shares during the quarter. Merus accounts for about 1.1% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Avoro Capital Advisors LLC owned 2.31% of Merus worth $80,175,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its position in shares of Merus by 37.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,253 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 343 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Merus by 2.9% in the first quarter. California State Teachers Retirement System now owns 33,745 shares of the biotechnology company’s stock worth $1,520,000 after purchasing an additional 936 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Merus by 1.9% during the first quarter. Swiss National Bank now owns 74,054 shares of the biotechnology company’s stock valued at $3,335,000 after purchasing an additional 1,400 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Merus during the first quarter valued at $72,000. Finally, SG Americas Securities LLC bought a new stake in Merus in the 1st quarter worth about $108,000. 96.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MRUS shares. Canaccord Genuity Group upgraded shares of Merus to a “strong-buy” rating in a research note on Thursday, July 25th. Needham & Company LLC decreased their target price on shares of Merus from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus raised their price target on Merus from $90.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Citigroup lifted their price objective on Merus from $70.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Guggenheim increased their target price on Merus from $57.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $80.20.

Merus Price Performance

MRUS opened at $49.67 on Monday. The company has a 50 day simple moving average of $52.21 and a two-hundred day simple moving average of $49.97. The firm has a market cap of $2.92 billion, a P/E ratio of -17.93 and a beta of 1.12. Merus has a 1-year low of $19.81 and a 1-year high of $61.61.

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

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 transaction of $600,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.57% of the company’s stock.

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.