Fred Alger Management LLC Has $2.90 Million Stock Holdings in Merus (NASDAQ:MRUS)

Fred Alger Management LLC decreased its position in Merus (NASDAQ:MRUS) by 7.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 57,946 shares of the biotechnology company’s stock after selling 4,870 shares during the period. Fred Alger Management LLC’s holdings in Merus were worth $2,895,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Merus by 24.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 489 shares during the period. California State Teachers Retirement System grew its position in shares of Merus by 2.9% in the 1st quarter. California State Teachers Retirement System now owns 33,745 shares of the biotechnology company’s stock valued at $1,520,000 after purchasing an additional 936 shares during the period. nVerses Capital LLC increased its stake in Merus by 750.0% during the 3rd quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 1,500 shares in the last quarter. US Bancorp DE bought a new stake in Merus during the 3rd quarter worth approximately $103,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Merus by 41.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,847 shares of the biotechnology company’s stock worth $523,000 after buying an additional 2,572 shares during the period. Institutional investors own 96.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MRUS shares. The Goldman Sachs Group began coverage on shares of Merus in a research report on Thursday, November 21st. They set a “buy” rating and a $73.00 price objective for the company. Guggenheim increased their target price on Merus from $93.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group began coverage on Merus in a report on Thursday, October 24th. They issued a “buy” rating and a $72.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price objective on shares of Merus in a report on Wednesday, November 20th. Finally, HC Wainwright restated a “buy” rating and issued a $85.00 target price on shares of Merus in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $85.45.

Merus Trading Down 0.3 %

Shares of NASDAQ MRUS opened at $44.84 on Monday. The company has a market capitalization of $3.07 billion, a P/E ratio of -11.35 and a beta of 1.12. Merus has a 12 month low of $22.27 and a 12 month high of $61.61. The stock has a 50 day moving average of $49.91 and a 200-day moving average of $51.85.

Merus (NASDAQ:MRUS) last released its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The company had revenue of $11.77 million during the quarter, compared to analyst estimates of $9.11 million. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. Analysts predict that Merus will post -3.89 EPS for the current fiscal year.

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.