First Turn Management LLC Sells 13,892 Shares of Merus (NASDAQ:MRUS)

First Turn Management LLC cut its position in Merus (NASDAQ:MRUS - Free Report) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,014 shares of the biotechnology company's stock after selling 13,892 shares during the quarter. Merus accounts for about 2.4% of First Turn Management LLC's holdings, making the stock its 19th biggest holding. First Turn Management LLC owned about 0.45% of Merus worth $15,388,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Merus in the first quarter valued at $72,000. nVerses Capital LLC raised its position in shares of Merus by 750.0% during the third quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 1,500 shares during the last quarter. US Bancorp DE bought a new position in shares of Merus during the third quarter worth about $103,000. SG Americas Securities LLC acquired a new position in shares of Merus in the first quarter worth approximately $108,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Merus by 24.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company's stock valued at $118,000 after acquiring an additional 489 shares during the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on MRUS. HC Wainwright restated a "buy" rating and set a $85.00 price target on shares of Merus in a report on Friday, November 1st. Guggenheim boosted their target price on shares of Merus from $93.00 to $111.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 price target on shares of Merus in a research report on Friday, November 1st. UBS Group began coverage on Merus in a research report on Thursday, October 24th. They issued a "buy" rating and a $72.00 price objective for the company. Finally, Canaccord Genuity Group restated a "buy" rating and set a $67.00 target price on shares of Merus in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $86.70.

Merus Stock Down 1.8 %

NASDAQ:MRUS traded down $0.78 on Tuesday, hitting $43.49. The stock had a trading volume of 719,318 shares, compared to its average volume of 682,831. Merus has a 52 week low of $22.26 and a 52 week high of $61.61. The business's fifty day moving average is $50.72 and its 200 day moving average is $51.92. The company has a market cap of $2.98 billion, a PE ratio of -11.01 and a beta of 1.12.

Merus (NASDAQ:MRUS - Get Free Report) last issued its earnings results on Thursday, October 31st. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.05). Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. The firm had revenue of $11.77 million during the quarter, compared to the consensus estimate of $9.11 million. Equities analysts predict that Merus will post -3.88 earnings per share for the current fiscal year.

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.