Merus (NASDAQ:MRUS) Sets New 12-Month Low – Should You Sell?

Shares of Merus (NASDAQ:MRUS) reached a new 52-week low during trading on Thursday . The stock traded as low as $33.19 and last traded at $39.56, with a volume of 1057081 shares trading hands. The stock had previously closed at $34.89.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler assumed coverage on shares of Merus in a research report on Thursday, February 13th. They set an “overweight” rating and a $84.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $85.00 target price on shares of Merus in a research note on Monday, March 3rd. Guggenheim reissued a “buy” rating and issued a $109.00 target price on shares of Merus in a research note on Friday, March 28th. Wells Fargo & Company initiated coverage on shares of Merus in a research note on Friday, February 7th. They issued an “overweight” rating and a $91.00 target price on the stock. Finally, Bank of America reduced their target price on shares of Merus from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $85.31.

Merus Trading Up 13.4 %

The company has a market cap of $2.73 billion, a PE ratio of -10.02 and a beta of 1.02. The company’s 50 day moving average is $43.64 and its 200 day moving average is $45.35.

Merus (NASDAQ:MRUS) last issued its earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.48. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. The company had revenue of $9.14 million for the quarter, compared to analysts’ expectations of $10.57 million. Analysts expect that Merus will post -3.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRUS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Merus by 17.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,200 shares of the biotechnology company’s stock worth $4,207,000 after acquiring an additional 12,212 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Merus in the 3rd quarter valued at about $358,000. MML Investors Services LLC bought a new stake in shares of Merus in the 3rd quarter valued at about $206,000. Franklin Resources Inc. boosted its holdings in shares of Merus by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,256,504 shares of the biotechnology company’s stock valued at $117,722,000 after buying an additional 150,341 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Merus by 83.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 723,988 shares of the biotechnology company’s stock valued at $36,171,000 after buying an additional 328,316 shares in the last quarter. 96.14% of the stock is currently owned by institutional investors.

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.