Merus (NASDAQ:MRUS) Stock Price Down 7% – Here’s Why

Merus N.V. (NASDAQ:MRUS) shares traded down 7% during trading on Monday . The company traded as low as $87.14 and last traded at $90.1550. 1,151,175 shares changed hands during trading, a decline of 9% from the average session volume of 1,258,495 shares. The stock had previously closed at $96.92.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MRUS shares. BMO Capital Markets reiterated a “market perform” rating and issued a $97.00 price objective on shares of Merus in a research report on Friday, October 31st. Citigroup lowered Merus from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $101.00 to $97.00 in a research note on Monday, September 29th. UBS Group downgraded Merus from a “buy” rating to a “neutral” rating and lifted their price target for the company from $72.00 to $97.00 in a research report on Tuesday, September 30th. Lifesci Capital reissued a “market perform” rating and set a $97.00 price objective on shares of Merus in a report on Tuesday, September 30th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $97.00 target price (down from $112.00) on shares of Merus in a research note on Tuesday, September 30th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.56.

Merus Stock Down 5.2%

The firm’s 50-day simple moving average is $95.87 and its 200-day simple moving average is $77.50. The firm has a market capitalization of $6.97 billion, a PE ratio of -17.33 and a beta of 1.06.

Insider Activity at Merus

In other news, major shareholder A/S Genmab bought 212,177 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were purchased at an average price of $97.00 per share, for a total transaction of $20,581,169.00. Following the completion of the acquisition, the insider owned 71,946,801 shares of the company’s stock, valued at approximately $6,978,839,697. This trade represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Harry Shuman sold 8,300 shares of Merus stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $95.92, for a total transaction of $796,136.00. Following the completion of the transaction, the vice president directly owned 11,002 shares in the company, valued at approximately $1,055,311.84. The trade was a 43.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 549,988 shares of company stock worth $53,348,836. 3.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Merus

A number of large investors have recently added to or reduced their stakes in MRUS. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Merus by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,674 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 362 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Merus by 66.7% in the second quarter. Allianz Asset Management GmbH now owns 26,000 shares of the biotechnology company’s stock worth $1,368,000 after acquiring an additional 10,400 shares during the period. Voya Investment Management LLC lifted its stake in shares of Merus by 26.3% in the 1st quarter. Voya Investment Management LLC now owns 78,280 shares of the biotechnology company’s stock worth $3,295,000 after purchasing an additional 16,280 shares during the period. Atle Fund Management AB boosted its holdings in shares of Merus by 69.7% in the second quarter. Atle Fund Management AB now owns 59,889 shares of the biotechnology company’s stock worth $3,150,000 after buying an additional 24,597 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in Merus by 72.4% during the second quarter. Ensign Peak Advisors Inc now owns 11,550 shares of the biotechnology company’s stock valued at $608,000 after buying an additional 4,850 shares during the period. Institutional investors own 96.14% of the company’s stock.

Merus Company Profile

Merus NV is a clinical-stage immuno-oncology company focused on the discovery and development of bispecific antibody therapeutics for the treatment of cancer. Utilizing its proprietary Biclonics® platform, Merus engineers fully human bispecific antibodies designed to engage immune cells and tumor targets simultaneously. The company’s research efforts are aimed at creating novel therapies with optimized potency, selectivity and safety profiles.

The Merus pipeline encompasses multiple Biclonics candidates in various stages of preclinical and clinical development.