The Manufacturers Life Insurance Company Sells 11,463 Shares of Merus (NASDAQ:MRUS)

The Manufacturers Life Insurance Company reduced its holdings in shares of Merus (NASDAQ:MRUS - Free Report) by 18.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,289 shares of the biotechnology company's stock after selling 11,463 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Merus worth $2,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Marshall Wace LLP boosted its stake in Merus by 813.3% in the 2nd quarter. Marshall Wace LLP now owns 957,952 shares of the biotechnology company's stock valued at $56,682,000 after purchasing an additional 853,060 shares during the period. Logos Global Management LP bought a new stake in Merus in the 2nd quarter valued at $50,294,000. Novo Holdings A S bought a new stake in Merus in the 2nd quarter valued at $39,940,000. Westfield Capital Management Co. LP bought a new stake in Merus in the 3rd quarter valued at $30,399,000. Finally, Avoro Capital Advisors LLC boosted its stake in Merus by 52.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 1,355,000 shares of the biotechnology company's stock valued at $80,175,000 after purchasing an additional 466,112 shares during the period. 96.14% of the stock is currently owned by institutional investors.

Merus Stock Performance

Shares of Merus stock traded down $0.91 during trading on Monday, reaching $43.74. 1,208,323 shares of the company's stock were exchanged, compared to its average volume of 684,599. Merus has a 1-year low of $22.27 and a 1-year high of $61.61. The company has a market cap of $2.99 billion, a P/E ratio of -11.30 and a beta of 1.07. The firm's 50-day moving average price is $49.73 and its 200 day moving average price is $51.92.

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 analyst estimates of $9.11 million. As a group, equities research analysts predict that Merus will post -3.89 EPS for the current year.

Analyst Upgrades and Downgrades

MRUS has been the subject of several analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Merus in a report on Monday, December 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Merus in a report on Monday. Guggenheim reaffirmed a "buy" rating and issued a $109.00 price objective (down from $111.00) on shares of Merus in a report on Tuesday, December 3rd. UBS Group initiated coverage on Merus in a report on Thursday, October 24th. They issued a "buy" rating and a $72.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on Merus in a report on Thursday, November 21st. They issued a "buy" rating and a $73.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $85.27.

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.