A/S Genmab has acquired 212,177 shares of Merus N.V. (NASDAQ: MRUS) in a significant transaction valued at approximately $20,581,169. The purchase, executed on December 18, 2023, reflects an average acquisition price of $97.00 per share. Following this transaction, Genmab holds a total of 71,946,801 shares of Merus, representing approximately $6,978,839,697 in value and a 0.30% increase in ownership.
The details of this acquisition were disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), a requirement for major shareholders owning 10% or more of a company’s shares. Such filings ensure transparency in trading activities among significant investors.
Merus Stock Performance and Market Trends
During trading on Monday, Merus stock saw a slight decline of 0.1%, closing at $96.95. The stock’s trading volume reached 501,154 shares, below its average volume of 1,271,123. As of now, Merus boasts a market capitalization of $7.35 billion, with a price-to-earnings (P/E) ratio of -18.29 and a beta of 1.06. Over the past year, Merus shares have fluctuated significantly, with a low of $33.19 and a high of $97.14. The stock’s fifty-day moving average stands at $95.66, while the two-hundred-day moving average is $76.05.
Institutional Investor Activity
Recent trading activity among institutional investors reflects growing interest in Merus. Avoro Capital Advisors LLC increased its holdings by 12.3% in the third quarter, acquiring an additional 386,945 shares to reach a total of 3,542,500 shares valued at $333,526,000.
Another significant player, Paradigm Biocapital Advisors LP, boosted its stake by 99.4% during the first quarter, now owning 3,369,699 shares valued at $141,831,000. Holocene Advisors LP also raised its stake in Merus by 18.8%, now holding 2,225,241 shares worth about $117,048,000.
With institutional investors owning 96.14% of the company’s shares, the confidence in Merus continues to grow as it develops its pipeline of innovative therapies.
Merus N.V. operates as a clinical-stage immuno-oncology company, focusing on the creation of bispecific antibody therapeutics designed to treat cancer. Utilizing its proprietary Biclonics® platform, the company engineers fully human bispecific antibodies that engage immune cells and tumor targets simultaneously, aiming for optimized potency, selectivity, and safety profiles.
As Merus progresses in its development, the continued interest from significant stakeholders like A/S Genmab could indicate positive expectations for the company’s future performance in the biotechnology sector.
