Balyasny Asset Management L.P. Cuts Stock Holdings in Merus (NASDAQ:MRUS)

Balyasny Asset Management L.P. lowered its stake in shares of Merus (NASDAQ:MRUS) by 94.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,399 shares of the biotechnology company’s stock after selling 565,489 shares during the period. Balyasny Asset Management L.P.’s holdings in Merus were worth $1,404,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Algert Global LLC raised its stake in Merus by 12.6% during the fourth quarter. Algert Global LLC now owns 173,114 shares of the biotechnology company’s stock worth $7,279,000 after purchasing an additional 19,390 shares during the period. Alyeska Investment Group L.P. purchased a new position in Merus during the fourth quarter worth approximately $5,734,000. Allostery Investments LP purchased a new position in Merus during the fourth quarter worth approximately $914,000. Boxer Capital Management LLC purchased a new position in Merus during the fourth quarter worth approximately $79,895,000. Finally, Novo Holdings A S raised its stake in Merus by 7.1% during the fourth quarter. Novo Holdings A S now owns 750,000 shares of the biotechnology company’s stock worth $31,538,000 after purchasing an additional 50,000 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Merus Price Performance

NASDAQ MRUS opened at $40.92 on Wednesday. Merus has a 12 month low of $33.19 and a 12 month high of $61.61. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -10.36 and a beta of 0.94. The company’s fifty day moving average price is $43.43 and its two-hundred day moving average price is $43.96.

Merus (NASDAQ:MRUS) last posted its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($1.40) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.23). Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $7.82 million. As a group, analysts anticipate that Merus will post -3.85 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $83.00 price target on shares of Merus in a research note on Wednesday, April 9th. Guggenheim reissued a “buy” rating and issued a $109.00 price objective on shares of Merus in a research report on Friday, March 28th. Piper Sandler assumed coverage on shares of Merus in a research report on Thursday, February 13th. They issued an “overweight” rating and a $84.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $85.00 price objective on shares of Merus in a research report on Monday, March 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Merus in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Merus currently has a consensus rating of “Buy” and a consensus price target of $85.15.

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.