Merus (NASDAQ:MRUS) Stock Price Down 7.6% – What’s Next?

Merus (NASDAQ:MRUS)’s stock price fell 7.6% on Monday . The company traded as low as $39.00 and last traded at $41.20. 332,799 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 686,506 shares. The stock had previously closed at $44.61.

Analyst Ratings Changes

MRUS has been the subject of a number of recent research reports. Guggenheim reiterated a “buy” rating and set a $109.00 price objective on shares of Merus in a research note on Friday, March 28th. Wells Fargo & Company assumed coverage on Merus in a research note on Friday, February 7th. They issued an “overweight” rating and a $91.00 price target for the company. Piper Sandler began coverage on Merus in a research note on Thursday, February 13th. They set an “overweight” rating and a $84.00 target price for the company. Needham & Company LLC reduced their target price on Merus from $85.00 to $83.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Citigroup upped their target price on shares of Merus from $89.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $85.31.

Merus Stock Performance

The stock has a market capitalization of $2.74 billion, a PE ratio of -10.03 and a beta of 1.15. The firm’s 50 day moving average is $44.03 and its two-hundred day moving average is $45.91.

Merus (NASDAQ:MRUS) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that Merus will post -3.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its stake in Merus by 7.5% in the fourth quarter. California State Teachers Retirement System now owns 41,149 shares of the biotechnology company’s stock valued at $1,730,000 after purchasing an additional 2,872 shares during the period. Polar Asset Management Partners Inc. acquired a new position in Merus in the 4th quarter valued at about $1,318,000. GF Fund Management CO. LTD. acquired a new stake in Merus during the 4th quarter worth approximately $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Merus by 17.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,744 shares of the biotechnology company’s stock valued at $4,152,000 after purchasing an additional 14,544 shares during the period. Finally, Woodline Partners LP raised its stake in shares of Merus by 0.3% during the fourth quarter. Woodline Partners LP now owns 1,188,518 shares of the biotechnology company’s stock worth $49,977,000 after purchasing an additional 3,593 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.

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.