Merus NV (NASDAQ:MRUS) Sees Significant Growth in Short Interest

Merus NV (NASDAQ:MRUS) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 377,300 shares, a growth of 34.3% from the September 30th total of 281,000 shares. Based on an average daily volume of 95,500 shares, the days-to-cover ratio is currently 4.0 days. Approximately 2.7% of the shares of the stock are sold short.

MRUS opened at $15.71 on Friday. The stock’s 50 day simple moving average is $16.43 and its 200 day simple moving average is $15.56. Merus has a 1 year low of $11.00 and a 1 year high of $20.95.

Merus (NASDAQ:MRUS) last posted its quarterly earnings results on Monday, August 19th. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.03). Merus had a negative return on equity of 40.56% and a negative net margin of 90.21%. The company had revenue of $6.27 million for the quarter, compared to the consensus estimate of $8.62 million. Research analysts forecast that Merus will post -1.74 earnings per share for the current fiscal year.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Merus from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded Merus from a “hold” rating to a “buy” rating in a research report on Thursday, September 26th. Finally, ValuEngine lowered Merus from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $23.43.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Athanor Capital LP bought a new position in Merus during the 2nd quarter worth approximately $334,000. Artal Group S.A. grew its position in Merus by 16.7% during the 2nd quarter. Artal Group S.A. now owns 350,000 shares of the biotechnology company’s stock worth $5,128,000 after acquiring an additional 50,000 shares during the last quarter. Morgan Stanley grew its position in Merus by 3.1% during the 2nd quarter. Morgan Stanley now owns 92,776 shares of the biotechnology company’s stock worth $1,359,000 after acquiring an additional 2,788 shares during the last quarter. JPMorgan Chase & Co. grew its position in Merus by 63.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,722 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 3,389 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Merus during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 50.56% of the company’s stock.

About Merus

Merus N.V., a clinical-stage immuno-oncology company, engages in developing bispecific antibody therapeutics. Its bispecific antibody candidate pipeline includes MCLA-128, which is in a Phase II clinical trial for the treatment of patients with metastatic breast cancer; and Phase I/II study for treating gastric, ovarian, endometrial, and non-small cell lung cancers.

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