Merus (NASDAQ:MRUS) Shares Sold by First Turn Management LLC

First Turn Management LLC lessened its stake in Merus (NASDAQ:MRUS) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,014 shares of the biotechnology company’s stock after selling 13,892 shares during the period. Merus comprises approximately 2.4% of First Turn Management LLC’s investment portfolio, making the stock its 19th largest holding. First Turn Management LLC owned 0.45% of Merus worth $15,388,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new stake in shares of Merus in the first quarter valued at approximately $53,377,000. Marshall Wace LLP boosted its holdings in Merus by 813.3% in the second 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 last quarter. Logos Global Management LP bought a new position in Merus during the 2nd quarter worth approximately $50,294,000. Novo Holdings A S acquired a new stake in shares of Merus during the 2nd quarter worth approximately $39,940,000. Finally, Avoro Capital Advisors LLC increased its position 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 acquiring an additional 466,112 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group assumed coverage on Merus in a research report on Thursday, October 24th. They issued a “buy” rating and a $72.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Merus in a research report on Friday, November 1st. Lifesci Capital raised Merus to a “strong-buy” rating in a research report on Monday, July 29th. Canaccord Genuity Group raised Merus to a “strong-buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $67.00 price objective on shares of Merus in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $86.70.

Merus Stock Performance

Shares of MRUS stock opened at $44.27 on Tuesday. Merus has a 1 year low of $22.26 and a 1 year high of $61.61. The stock’s 50 day simple moving average is $50.96 and its two-hundred day simple moving average is $51.98.

Merus (NASDAQ:MRUS) last issued its earnings results on Thursday, October 31st. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $11.77 million for the quarter, compared to analysts’ expectations of $9.11 million. As a group, sell-side analysts forecast that Merus will post -3.88 EPS for the current year.

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.