Merus (NASDAQ:MRUS) Shares Gap Down - Here's Why

Merus (NASDAQ:MRUS - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $51.23, but opened at $48.91. Merus shares last traded at $50.99, with a volume of 30,989 shares traded.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRUS. HC Wainwright restated a "buy" rating and set a $85.00 price target on shares of Merus in a research report on Friday. Canaccord Genuity Group upgraded Merus to a "strong-buy" rating in a research report on Thursday, July 25th. Lifesci Capital upgraded Merus to a "strong-buy" rating in a research report on Monday, July 29th. Canaccord Genuity Group reiterated a "buy" rating and issued a $67.00 price objective on shares of Merus in a research report on Thursday, July 25th. Finally, UBS Group initiated coverage on Merus in a research report on Thursday, October 24th. They issued a "buy" rating and a $72.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $86.70.

Merus Price Performance

The stock has a 50 day simple moving average of $50.84 and a 200-day simple moving average of $51.44. The firm has a market cap of $3.53 billion, a PE ratio of -12.41 and a beta of 1.12.

Institutional Trading of Merus

Several large investors have recently modified their holdings of MRUS. Deerfield Management Company L.P. Series C grew its holdings in Merus by 3.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 2,749,401 shares of the biotechnology company's stock valued at $162,682,000 after purchasing an additional 100,000 shares during the period. Federated Hermes Inc. lifted its position in shares of Merus by 6.7% in the second quarter. Federated Hermes Inc. now owns 2,398,800 shares of the biotechnology company's stock valued at $141,937,000 after acquiring an additional 150,000 shares in the last quarter. Samlyn Capital LLC lifted its position in shares of Merus by 11.9% in the second quarter. Samlyn Capital LLC now owns 2,324,195 shares of the biotechnology company's stock valued at $137,523,000 after acquiring an additional 247,605 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Merus by 26.4% in the second quarter. Driehaus Capital Management LLC now owns 1,550,009 shares of the biotechnology company's stock worth $91,714,000 after buying an additional 323,518 shares in the last quarter. Finally, Lynx1 Capital Management LP lifted its position in shares of Merus by 32.9% in the first quarter. Lynx1 Capital Management LP now owns 1,509,007 shares of the biotechnology company's stock worth $67,951,000 after buying an additional 373,782 shares in the last quarter. Institutional investors own 96.14% 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.