Merus (NASDAQ:MRUS) Reaches New 52-Week Low - Here's Why

Shares of Merus (NASDAQ:MRUS - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $37.54 and last traded at $37.87, with a volume of 438895 shares. The stock had previously closed at $41.73.

Wall Street Analyst Weigh In

MRUS has been the topic of several recent research reports. Guggenheim reissued a "buy" rating and issued a $109.00 price target on shares of Merus in a research note on Friday, March 28th. Needham & Company LLC reissued a "buy" rating and issued a $83.00 target price on shares of Merus in a research report on Wednesday. Wells Fargo & Company assumed coverage on Merus in a research report on Friday, February 7th. They set an "overweight" rating and a $91.00 price target for the company. William Blair reiterated an "outperform" rating on shares of Merus in a report on Friday, February 28th. Finally, Piper Sandler began coverage on shares of Merus in a research report on Thursday, February 13th. They issued an "overweight" rating and a $84.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Merus currently has a consensus rating of "Buy" and a consensus target price of $85.31.

Merus Trading Up 13.4 %

The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -10.02 and a beta of 1.02. The company's 50 day moving average is $43.71 and its 200-day moving average is $45.45.

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Merus (NASDAQ:MRUS - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $10.57 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. Research analysts expect that Merus will post -3.85 EPS for the current year.

Hedge Funds Weigh In On Merus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRUS. GAMMA Investing LLC lifted its stake in shares of Merus by 2,153.6% during the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock worth $27,000 after buying an additional 603 shares during the last quarter. California State Teachers Retirement System raised its holdings in Merus by 7.5% in the 4th quarter. California State Teachers Retirement System now owns 41,149 shares of the biotechnology company's stock valued at $1,730,000 after acquiring an additional 2,872 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in Merus during the fourth quarter worth approximately $1,318,000. GF Fund Management CO. LTD. bought a new stake in shares of Merus during the fourth quarter worth approximately $60,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 last quarter. 96.14% of the stock is owned by institutional investors.

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.