Tri Locum Partners LP Boosts Stake in Merus (NASDAQ:MRUS)

Tri Locum Partners LP raised its stake in Merus (NASDAQ:MRUS) by 80.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,303 shares of the biotechnology company’s stock after acquiring an additional 155,146 shares during the quarter. Merus makes up 3.0% of Tri Locum Partners LP’s portfolio, making the stock its 15th biggest holding. Tri Locum Partners LP’s holdings in Merus were worth $14,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MRUS. Avoro Capital Advisors LLC raised its stake in Merus by 56.8% in the 4th 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 last quarter. Wellington Management Group LLP grew its holdings in shares of Merus by 21.1% during the fourth quarter. Wellington Management Group LLP now owns 3,497,653 shares of the biotechnology company’s stock worth $147,076,000 after buying an additional 610,139 shares in the last quarter. Gilead Sciences Inc. acquired a new position in shares of Merus in the fourth quarter valued at approximately $19,029,000. Lord Abbett & CO. LLC lifted its stake in shares of Merus by 83.0% during the third quarter. Lord Abbett & CO. LLC now owns 723,988 shares of the biotechnology company’s stock valued at $36,171,000 after buying an additional 328,316 shares during the period. Finally, Affinity Asset Advisors LLC boosted its position in Merus by 140.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 389,241 shares of the biotechnology company’s stock worth $16,368,000 after acquiring an additional 227,500 shares during the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

Merus Stock Down 1.8 %

MRUS opened at $43.57 on Friday. Merus has a 52-week low of $33.19 and a 52-week high of $61.61. The company has a 50 day moving average of $44.08 and a two-hundred day moving average of $44.78. The company has a market cap of $3.01 billion, a P/E ratio of -11.03 and a beta of 1.02.

Merus (NASDAQ:MRUS) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.48. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. The firm had revenue of $9.14 million during the quarter, compared to analysts’ expectations of $10.57 million. Research analysts anticipate that Merus will post -3.85 earnings per share for the current year.

Analysts Set New Price Targets

MRUS has been the subject of several analyst reports. Bank of America cut their price target on Merus from $73.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 10th. Guggenheim reiterated a “buy” rating and issued a $109.00 target price on shares of Merus in a research note on Friday, March 28th. Needham & Company LLC reiterated a “buy” rating and set a $83.00 target price on shares of Merus in a research report on Wednesday, April 9th. Wells Fargo & Company initiated coverage on Merus in a report on Friday, February 7th. They issued an “overweight” rating and a $91.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $85.00 price objective on shares of Merus in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Merus presently has a consensus rating of “Buy” and a consensus target price of $85.31.

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.