Merus N.V. (NASDAQ:MRUS) Sees Large Decrease in Short Interest

Merus N.V. (NASDAQ:MRUS) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 817,936 shares, a drop of 48.0% from the November 30th total of 1,572,748 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 1,294,027 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 1,294,027 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.1% of the shares of the stock are sold short.

Merus Price Performance

Shares of Merus stock traded up $0.01 during trading on Friday, hitting $96.92. The company’s stock had a trading volume of 362,840 shares, compared to its average volume of 1,025,489. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of -18.29 and a beta of 1.06. Merus has a 52 week low of $33.19 and a 52 week high of $97.14. The stock has a 50-day moving average price of $95.87 and a two-hundred day moving average price of $77.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MRUS shares. Barclays reaffirmed an “equal weight” rating and set a $97.00 price target (down from $112.00) on shares of Merus in a report on Tuesday, September 30th. William Blair downgraded shares of Merus from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Lifesci Capital reiterated a “market perform” rating and issued a $97.00 price target on shares of Merus in a research note on Tuesday, September 30th. Truist Financial lowered Merus from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $88.00 to $97.00 in a research report on Monday, September 29th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $97.00 target price on shares of Merus in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.56.

Insider Buying and Selling at Merus

In related news, VP Harry Shuman sold 8,300 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $95.92, for a total value of $796,136.00. Following the sale, the vice president directly owned 11,002 shares of the company’s stock, valued at $1,055,311.84. This trade represents a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder A/S Genmab bought 212,177 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $97.00 per share, for a total transaction of $20,581,169.00. Following the transaction, the insider owned 71,946,801 shares of the company’s stock, valued at approximately $6,978,839,697. The trade was a 0.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 549,988 shares of company stock worth $53,348,836. Corporate insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merus

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Merus during the 3rd quarter worth approximately $42,000. Farther Finance Advisors LLC increased its position in shares of Merus by 10,400.0% during the third quarter. Farther Finance Advisors LLC now owns 525 shares of the biotechnology company’s stock worth $49,000 after buying an additional 520 shares during the period. Longfellow Investment Management Co. LLC bought a new position in Merus during the third quarter worth $75,000. CWM LLC lifted its holdings in Merus by 299.0% in the second quarter. CWM LLC now owns 802 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 601 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Merus during the third quarter valued at $114,000. 96.14% of the stock is owned by institutional investors and hedge funds.

About Merus

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.