KLP Kapitalforvaltning AS Takes Position in Merus (NASDAQ:MRUS)

KLP Kapitalforvaltning AS acquired a new position in shares of Merus (NASDAQ:MRUS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,300 shares of the biotechnology company's stock, valued at approximately $433,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MRUS. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Merus by 49.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,232 shares of the biotechnology company's stock worth $661,000 after purchasing an additional 4,385 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Merus by 17.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,200 shares of the biotechnology company's stock valued at $4,207,000 after acquiring an additional 12,212 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Merus by 16.6% in the third quarter. Verition Fund Management LLC now owns 42,746 shares of the biotechnology company's stock valued at $2,136,000 after acquiring an additional 6,071 shares during the period. HighTower Advisors LLC bought a new stake in shares of Merus in the 3rd quarter worth about $358,000. Finally, Wellington Management Group LLP boosted its stake in shares of Merus by 73.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,887,514 shares of the biotechnology company's stock worth $144,260,000 after purchasing an additional 1,224,573 shares during the period. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts have issued reports on MRUS shares. Wells Fargo & Company started coverage on shares of Merus in a research note on Friday, February 7th. They issued an "overweight" rating and a $91.00 price objective for the company. William Blair reissued an "outperform" rating on shares of Merus in a research note on Friday, February 28th. Piper Sandler assumed coverage on Merus in a research report on Thursday, February 13th. They issued an "overweight" rating and a $84.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $83.00 target price on shares of Merus in a research report on Wednesday. Finally, HC Wainwright restated a "buy" rating and issued a $85.00 price target on shares of Merus in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $85.31.

Merus Price Performance

NASDAQ MRUS traded up $4.67 on Wednesday, hitting $39.56. The stock had a trading volume of 1,057,081 shares, compared to its average volume of 709,641. Merus has a 52-week low of $33.23 and a 52-week high of $61.61. The business's fifty day moving average price is $43.71 and its 200 day moving average price is $45.45. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -10.02 and a beta of 1.02.

Merus (NASDAQ:MRUS - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.48. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. The company had revenue of $9.14 million for the quarter, compared to analyst estimates of $10.57 million. As a group, sell-side analysts anticipate that Merus will post -3.85 EPS for the current year.

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.