First Turn Management LLC Cuts Stock Position in Merus (NASDAQ:MRUS)

First Turn Management LLC lowered its position in Merus (NASDAQ:MRUS) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 308,014 shares of the biotechnology company’s stock after selling 13,892 shares during the quarter. Merus comprises about 2.4% of First Turn Management LLC’s holdings, making the stock its 19th biggest holding. First Turn Management LLC’s holdings in Merus were worth $15,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Merus during the first quarter worth approximately $72,000. nVerses Capital LLC lifted its holdings in Merus by 750.0% in the third quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 1,500 shares during the period. US Bancorp DE acquired a new position in shares of Merus during the 3rd quarter worth $103,000. SG Americas Securities LLC purchased a new stake in Merus during the 1st quarter worth about $108,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Merus by 24.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 489 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Wall Street Analysts Forecast Growth

MRUS has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Merus in a research note on Friday, November 1st. Guggenheim lifted their price objective on Merus from $93.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Lifesci Capital raised Merus to a “strong-buy” rating in a research note on Monday, July 29th. Canaccord Genuity Group reissued a “buy” rating and set a $67.00 price target on shares of Merus in a research report on Thursday, July 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Merus in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $86.70.

Merus Stock Down 5.0 %

Shares of MRUS opened at $44.27 on Tuesday. The business’s 50 day moving average is $50.96 and its two-hundred day moving average is $51.98. Merus has a 52-week low of $22.26 and a 52-week high of $61.61.

Merus (NASDAQ:MRUS) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.05). Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. The firm had revenue of $11.77 million during the quarter, compared to the consensus estimate of $9.11 million. Equities analysts forecast that Merus will post -3.88 EPS for the current year.

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.