Merus (NASDAQ:MRUS) Trading 3.9% Higher on Insider Buying Activity

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Merus (NASDAQ:MRUSGet Rating)’s share price shot up 3.9% on Wednesday after an insider bought additional shares in the company. The stock traded as high as $24.48 and last traded at $24.48. 764 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 351,305 shares. The stock had previously closed at $23.55.

Specifically, CEO Sven Ante Lundberg bought 4,340 shares of Merus stock in a transaction dated Tuesday, July 12th. The stock was acquired at an average cost of $22.97 per share, with a total value of $99,689.80. Following the completion of the acquisition, the chief executive officer now directly owns 19,340 shares in the company, valued at approximately $444,239.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Several brokerages have recently commented on MRUS. StockNews.com began coverage on Merus in a report on Thursday, March 31st. They set a “hold” rating for the company. Citigroup dropped their price target on Merus from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 19th. Finally, HC Wainwright reissued a “buy” rating on shares of Merus in a research report on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $41.43.

The firm has a 50-day simple moving average of $19.75 and a two-hundred day simple moving average of $24.13. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -13.87 and a beta of 0.91.

Merus (NASDAQ:MRUSGet Rating) last issued its earnings results on Monday, May 9th. The biotechnology company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.23. Merus had a negative return on equity of 29.02% and a negative net margin of 143.77%. The company had revenue of $11.66 million for the quarter, compared to analyst estimates of $8.55 million. As a group, analysts anticipate that Merus will post -2.48 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Commodore Capital LP increased its position in Merus by 108.7% in the 4th quarter. Commodore Capital LP now owns 1,498,890 shares of the biotechnology company’s stock worth $47,665,000 after purchasing an additional 780,754 shares during the last quarter. Lynx1 Capital Management LP acquired a new position in Merus in the 4th quarter worth about $24,912,000. Millennium Management LLC increased its position in Merus by 39.2% in the 4th quarter. Millennium Management LLC now owns 774,767 shares of the biotechnology company’s stock worth $24,638,000 after purchasing an additional 218,244 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Merus in the 1st quarter worth about $16,630,000. Finally, Citadel Advisors LLC increased its position in Merus by 235.2% in the 4th quarter. Citadel Advisors LLC now owns 597,342 shares of the biotechnology company’s stock worth $18,995,000 after purchasing an additional 419,152 shares during the last quarter. 85.32% of the stock is currently owned by institutional investors.

About Merus (NASDAQ:MRUS)

Merus N.V., a clinical-stage immuno-oncology company, engages in the discovery and development of bispecific 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, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1.

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