On December 26, 2023, A/S Genmab, a major shareholder in Merus N.V. (NASDAQ: MRUS), acquired 142,610 shares of the company’s stock. The shares were purchased at an average price of $97.00 each, amounting to a total investment of $13,833,170.00. Following this acquisition, A/S Genmab’s holdings in Merus increased to 72,828,509 shares, valued at approximately $7.06 billion, reflecting a 0.20% increase in their position.
The transaction was formally disclosed in a filing with the Securities and Exchange Commission (SEC), which mandates that large shareholders owning more than 10% of a company’s shares report their trading activities. This regulatory requirement ensures transparency in the ownership structures of publicly traded firms.
Merus N.V. experienced fluctuations in its stock price following the acquisition. On the trading day after the purchase, shares of Merus declined by $6.92, reaching a price of $90.00 during market hours. The trading volume was notably high at 2,726,439 shares, significantly surpassing the average volume of 1,265,370 shares. Over the past year, Merus’ stock has seen a low of $33.19 and a high of $97.14, with a current market capitalization of approximately $6.83 billion.
Analyst Ratings and Market Insights
Recent evaluations from various brokerages indicate a cautious outlook on Merus shares. Wells Fargo & Company maintained an “equal weight” rating, raising its target price to $97.00 from a previous $95.00. Conversely, Guggenheim reissued a “neutral” rating but reduced its price target from $109.00 to $97.00. Citigroup also downgraded Merus from a “buy” to a “neutral” rating, cutting its target from $101.00 to $97.00.
Additionally, UBS Group adjusted its rating from “buy” to “neutral” while increasing its price target from $72.00 to $97.00. HC Wainwright similarly downgraded the stock from “buy” to “neutral,” with a revised target of $97.00. Presently, analysts have given Merus a consensus rating of “Hold,” with an average price target of $93.56, according to data from MarketBeat.
About Merus N.V.
Merus N.V. is a clinical-stage immuno-oncology company dedicated to developing bispecific antibody therapeutics for cancer treatment. Utilizing its proprietary Biclonics® platform, Merus designs fully human bispecific antibodies that engage both immune cells and tumor targets simultaneously. The company’s research is focused on creating innovative therapies with enhanced potency, selectivity, and safety profiles. Merus’ pipeline features various Biclonics candidates at different stages of preclinical and clinical development, reflecting its commitment to advancing cancer treatment.
As the market continues to evolve, the performance of Merus N.V. will be closely monitored by investors and analysts alike.
