Short Interest in Merus N.V. (NASDAQ:MRUS) Declines By 33.0%

Merus N.V. (NASDAQ:MRUS) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 2,900,000 shares, a drop of 33.0% from the September 15th total of 4,330,000 shares. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 1.6 days.

Merus Stock Performance

Shares of NASDAQ:MRUS opened at $94.60 on Wednesday. Merus has a 52-week low of $33.19 and a 52-week high of $95.04. The company has a market capitalization of $7.15 billion, a P/E ratio of -17.20 and a beta of 1.26. The company has a 50-day simple moving average of $76.50 and a 200 day simple moving average of $60.31.

Merus (NASDAQ:MRUS) last issued its earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($1.06). Merus had a negative net margin of 685.64% and a negative return on equity of 50.28%. The firm had revenue of $8.83 million during the quarter, compared to analyst estimates of $9.77 million. As a group, equities analysts forecast that Merus will post -3.85 earnings per share for the current year.

Institutional Investors Weigh In On Merus

Several hedge funds have recently bought and sold shares of the stock. NTV Asset Management LLC acquired a new stake in Merus during the third quarter worth approximately $212,000. Simplify Asset Management Inc. acquired a new stake in Merus during the third quarter worth approximately $3,137,000. Three Seasons Wealth LLC acquired a new stake in Merus during the third quarter worth approximately $284,000. Farther Finance Advisors LLC lifted its position in 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 acquiring an additional 520 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new stake in Merus during the third quarter worth approximately $2,342,000. 96.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group cut Merus from a “buy” rating to a “neutral” rating and raised their price objective for the company from $72.00 to $97.00 in a report on Tuesday, September 30th. Guggenheim restated a “neutral” rating and issued a $97.00 price objective (down previously from $109.00) on shares of Merus in a report on Tuesday, September 30th. Truist Financial cut Merus from a “buy” rating to a “hold” rating and raised their price objective for the company from $88.00 to $97.00 in a report on Monday, September 29th. Wells Fargo & Company restated an “equal weight” rating and issued a $97.00 price objective (up previously from $95.00) on shares of Merus in a report on Monday, September 29th. Finally, Citigroup cut Merus from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $101.00 to $97.00 in a report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $93.12.

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.