Merus (NASDAQ:MRUS) Shares Up 7.5% - Here's What Happened

Shares of Merus (NASDAQ:MRUS - Get Free Report) were up 7.5% during mid-day trading on Wednesday . The stock traded as high as $42.57 and last traded at $42.57. Approximately 557,280 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 697,193 shares. The stock had previously closed at $39.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Merus in a report on Thursday, February 13th. They set an "overweight" rating and a $84.00 target price for the company. Bank of America dropped their price target on Merus from $73.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Needham & Company LLC lowered their target price on Merus from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Friday, February 28th. William Blair restated an "outperform" rating on shares of Merus in a research report on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and issued a $85.00 target price on shares of Merus in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Merus currently has an average rating of "Buy" and an average price target of $85.31.

Merus Price Performance

The stock has a market capitalization of $2.58 billion, a PE ratio of -9.47 and a beta of 1.02. The stock's 50 day moving average is $44.02 and its two-hundred day moving average is $45.72.

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Merus (NASDAQ:MRUS - Get Free Report) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.48. The business 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, equities analysts predict that Merus will post -3.85 earnings per share for the current year.

Institutional Investors Weigh In On Merus

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Boxer Capital Management LLC acquired a new position in Merus during the fourth quarter worth approximately $79,895,000. Wellington Management Group LLP grew its position in 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 last quarter. Avoro Capital Advisors LLC increased its stake in Merus by 56.8% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,125,000 shares of the biotechnology company's stock valued at $89,356,000 after purchasing an additional 770,000 shares during the period. Gilead Sciences Inc. purchased a new stake in shares of Merus in the fourth quarter valued at about $19,029,000. Finally, Polar Capital Holdings Plc boosted its stake in shares of Merus by 34.7% during the fourth quarter. Polar Capital Holdings Plc now owns 1,706,238 shares of the biotechnology company's stock worth $71,747,000 after buying an additional 439,186 shares during the period. 96.14% of the stock is owned by hedge funds and other 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.