Merus NV (NASDAQ:MRUS) was up 6.9% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $13.76 and last traded at $12.25. Approximately 58,300 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 104,564 shares. The stock had previously closed at $11.46.
Specifically, major shareholder Bvf Partners L. P/Il acquired 201,906 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was acquired at an average price of $11.17 per share, with a total value of $2,255,290.02. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bvf Partners L. P/Il acquired 189,651 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $11.10 per share, with a total value of $2,105,126.10. The disclosure for this purchase can be found here. 7.40% of the stock is owned by corporate insiders.
A number of brokerages recently commented on MRUS. Zacks Investment Research downgraded shares of Merus from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. Royal Bank of Canada downgraded shares of Merus from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $21.00 to $16.00 in a report on Wednesday, May 27th. BidaskClub downgraded shares of Merus from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 26th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Merus in a report on Friday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Merus presently has an average rating of “Hold” and an average target price of $19.25.
The firm has a market cap of $345.31 million, a P/E ratio of -4.44 and a beta of 0.54. The company’s 50 day simple moving average is $12.38 and its 200-day simple moving average is $13.99.
Merus (NASDAQ:MRUS) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.59). The business had revenue of $6.67 million during the quarter, compared to the consensus estimate of $6.79 million. Merus had a negative net margin of 243.85% and a negative return on equity of 66.84%. As a group, research analysts anticipate that Merus NV will post -2.19 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in shares of Merus during the second quarter worth approximately $32,000. PDT Partners LLC purchased a new position in Merus during the second quarter valued at approximately $187,000. Bank of New York Mellon Corp purchased a new position in Merus during the second quarter valued at approximately $275,000. Two Sigma Advisers LP increased its holdings in Merus by 9.9% during the first quarter. Two Sigma Advisers LP now owns 43,100 shares of the biotechnology company’s stock valued at $522,000 after buying an additional 3,900 shares during the period. Finally, Swiss National Bank purchased a new position in Merus during the second quarter valued at approximately $582,000. 64.02% of the stock is owned by institutional investors and hedge funds.
About Merus (NASDAQ:MRUS)
Merus N.V., a clinical-stage immuno-oncology company, engages in developing bispecific antibody therapeutics. Its bispecific antibody candidate pipeline includes MCLA-128, which is in a Phase II clinical trial for the treatment of patients with metastatic breast cancer; and Phase I/II study for treating gastric, ovarian, endometrial, and non-small cell lung cancers.
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