Short Interest in Merus (NASDAQ:MRUS) Decreases By 15.5%

Merus (NASDAQ:MRUS) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 8,260,000 shares, a decrease of 15.5% from the December 15th total of 9,780,000 shares. Based on an average daily volume of 539,100 shares, the short-interest ratio is currently 15.3 days.

Merus Price Performance

MRUS stock traded down $0.20 during mid-day trading on Friday, reaching $39.45. 638,973 shares of the company traded hands, compared to its average volume of 439,536. Merus has a 52-week low of $31.27 and a 52-week high of $61.61. The company has a market capitalization of $2.70 billion, a P/E ratio of -9.99 and a beta of 1.10. The company has a fifty day moving average price of $43.83 and a 200-day moving average price of $49.22.

Merus (NASDAQ:MRUS) last announced its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The firm had revenue of $11.77 million during the quarter, compared to the consensus estimate of $9.11 million. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. As a group, analysts forecast that Merus will post -3.89 EPS for the current year.

Analyst Upgrades and Downgrades

MRUS has been the topic of several recent analyst reports. Citigroup lifted their target price on shares of Merus from $89.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. HC Wainwright reiterated a “buy” rating and set a $85.00 price target on shares of Merus in a report on Monday, December 2nd. Guggenheim restated a “buy” rating and issued a $109.00 price objective (down previously from $111.00) on shares of Merus in a research note on Tuesday, December 3rd. The Goldman Sachs Group began coverage on Merus in a research note on Thursday, November 21st. They set a “buy” rating and a $73.00 target price on the stock. Finally, UBS Group started coverage on shares of Merus in a report on Thursday, October 24th. They set a “buy” rating and a $72.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Merus has an average rating of “Buy” and a consensus target price of $85.64.

Hedge Funds Weigh In On Merus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Merus by 73.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,887,514 shares of the biotechnology company’s stock valued at $144,260,000 after acquiring an additional 1,224,573 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Merus by 813.3% during the second quarter. Marshall Wace LLP now owns 957,952 shares of the biotechnology company’s stock worth $56,682,000 after purchasing an additional 853,060 shares in the last quarter. Logos Global Management LP bought a new position in shares of Merus in the second quarter worth approximately $50,294,000. Novo Holdings A S purchased a new stake in Merus in the second quarter valued at approximately $39,940,000. Finally, FMR LLC lifted its position in Merus by 10.4% during the third quarter. FMR LLC now owns 6,873,926 shares of the biotechnology company’s stock valued at $343,421,000 after purchasing an additional 648,994 shares during the last quarter. 96.14% of the stock is currently 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.