Vault-13

MERUS N V MRUS

COM · Common Stock · CUSIP N5749R100

203 institutional holders +16 vs Q1 2025
74,924,83374.9m shares reported held*
$3.9bnreported value*
43 new 76 added 65 reduced 29 sold out net bought ≈ $210.4m (+4.0m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($6.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $52.60. Options: 16 managers hold calls ($41.5m notional), 9 hold puts ($31.7m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 101Q4 22: 92Q1 23: 105Q2 23: 115Q3 23: 114Q4 23: 133Q1 24: 158Q2 24: 181Q3 24: 191Q4 24: 194Q1 25: 187Q2 25: 203203Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022101
Q4 202292
Q1 2023105
Q2 2023115
Q3 2023114
Q4 2023133
Q1 2024158
Q2 2024181
Q3 2024191
Q4 2024194
Q1 2025187
Q2 2025203

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q3 23: 60 bought or addedQ3 23: 45 cut or sold outQ4 23: 68 bought or addedQ4 23: 53 cut or sold outQ4 23Q1 24: 85 bought or addedQ1 24: 62 cut or sold outQ2 24: 119 bought or addedQ2 24: 68 cut or sold outQ2 24Q3 24: 105 bought or addedQ3 24: 68 cut or sold outQ4 24: 96 bought or addedQ4 24: 86 cut or sold outQ4 24Q1 25: 96 bought or addedQ1 25: 91 cut or sold outQ2 25: 119 bought or addedQ2 25: 94 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20236045
Q4 20236853
Q1 20248562
Q2 202411968
Q3 202410568
Q4 20249686
Q1 20259691
Q2 202511994

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$20m$40m$60mQ3 24 calls: $12.2mQ3 24 puts: $15.3mQ3 24P/C 1.26Q4 24 calls: $5.1mQ4 24 puts: $3.7mQ4 24P/C 0.74Q1 25 calls: $17.1mQ1 25 puts: $4.1mQ1 25P/C 0.24Q2 25 calls: $41.5mQ2 25 puts: $31.7mQ2 25P/C 0.76
Numbers
QuarterCallsPutsP/C
Q3 2024$12.2m$15.3m1.26
Q4 2024$5.1m$3.7m0.74
Q1 2025$17.1m$4.1m0.24
Q2 2025$41.5m$31.7m0.76

Biggest buyers

PRICE T ROWE ASSOCIATES INC /MD/ Added +1,166,269+1.2m
AMERIPRISE FINANCIAL INC Added +1,031,457+1.0m
Paradigm Biocapital Advisors LP Added +912,255+912.3k
ADAGE CAPITAL PARTNERS GP, L.L.C. New +833,397+833.4k
WESTFIELD CAPITAL MANAGEMENT CO LP Added +541,168+541.2k
FMR LLC Added +523,463+523.5k
TANG CAPITAL MANAGEMENT LLC Added +500,000+500.0k
Capital International Investors New +491,244+491.2k
FEDERATED HERMES, INC. Added +483,962+484.0k
JANUS HENDERSON GROUP PLC Added +447,747+447.7k

Biggest sellers

SAMLYN CAPITAL, LLC Reduced -1,614,243-1.6m
WELLINGTON MANAGEMENT GROUP LLP Reduced -991,449-991.4k
Commodore Capital LP Reduced -947,840-947.8k
BlackRock, Inc. Reduced -640,927-640.9k
MILLENNIUM MANAGEMENT LLC Reduced -570,638-570.6k
Frazier Life Sciences Management, L.P. Sold out -373,100-373.1k
TWO SIGMA ADVISERS, LP Reduced -359,600-359.6k
Soleus Capital Management, L.P. Reduced -345,821-345.8k
MORGAN STANLEY Reduced -344,372-344.4k
Boxer Capital Management, LLC Reduced -335,000-335.0k

Biggest calls

SILVERARC CAPITAL MANAGEMENT, LLC New $20.1m382.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $5.4m103.4k shares
Maven Securities LTD New $3.4m64.0k shares
CITADEL ADVISORS LLC Added $3.2m60.4k shares
Caption Management, LLC Reduced $1.6m30.0k shares
CITIGROUP INC Reduced $1.6m29.9k shares
JANE STREET GROUP, LLC Added $1.5m29.0k shares
Point72 Asset Management, L.P. New $1.2m22.5k shares
Centiva Capital, LP New $841.6k16.0k shares
BARCLAYS PLC Reduced $768.0k14.6k shares

Biggest puts

Caption Management, LLC Added $12.6m240.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $10.1m192.9k shares
Hudson Bay Capital Management LP New $2.6m50.0k shares
CITADEL ADVISORS LLC Added $1.9m35.3k shares
CITIGROUP INC Reduced $1.6m29.9k shares
SIMPLEX TRADING, LLC Added $1.4m25.7k shares
GROUP ONE TRADING LLC Added $1.2m22.0k shares
JANE STREET GROUP, LLC Reduced $394.5k7.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: Paradigm Biocapital Advisors LP (0.0%, 2026-02-17), GENMAB A/S (0.0%, 2025-12-30), RTW INVESTMENTS, LP (2.7%, 2025-11-14), WELLINGTON MANAGEMENT GROUP LLP (0.6%, 2025-11-12)

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.02% of their portfolio BOSTON, MA 7,490,3777.5m $394.0m $394.0m 0.02% Added +523.5k +523,463
2 Paradigm Biocapital Advisors LP 9.62% of their portfolio NEW YORK, NY 4,281,9544.3m $225.2m $225.2m 9.62% Added +912.3k +912,255
3 RTW INVESTMENTS, LP 3.00% of their portfolio NEW YORK, NY 4,000,5534.0m $210.4m $210.4m 3.00% Reduced -168.8k -168,840
4 WELLINGTON MANAGEMENT GROUP LLP 0.04% of their portfolio Boston, MA 3,726,7233.7m $196.0m $196.0m 0.04% Reduced -991.4k -991,449
5 Commodore Capital LP 13.09% of their portfolio NEW YORK, NY 3,525,0003.5m $185.4m $185.4m 13.09% Reduced -947.8k -947,840
6 DEERFIELD MANAGEMENT COMPANY, L.P. 3.23% of their portfolio New York, NY 3,384,6283.4m $178.0m $178.0m 3.23% Added +210.7k +210,700
7 Avoro Capital Advisors LLC 2.91% of their portfolio NEW YORK, NY 3,155,5553.2m $166.0m $166.0m 2.91% Added +155.6k +155,555
8 PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio BALTIMORE, MD 2,262,0112.3m $119.0m $119.0m 0.01% Added +1.2m +1,166,269
9 Holocene Advisors, LP 0.29% of their portfolio New York, NY 2,225,2412.2m $117.0m $117.0m 0.29% Added +351.6k +351,616
10 WESTFIELD CAPITAL MANAGEMENT CO LP 0.45% of their portfolio BOSTON, MA 2,042,3882.0m $107.4m $107.4m 0.45% Added +541.2k +541,168
11 FRANKLIN RESOURCES INC 0.03% of their portfolio San Mateo, CA 1,837,5751.8m $96.7m $96.7m 0.03% Reduced -153.6k -153,618
12 Polar Capital Holdings Plc 0.44% of their portfolio London, X0 1,611,0491.6m $84.7m $84.7m 0.44% Reduced -95.8k -95,813
13 Lynx1 Capital Management LP 23.84% of their portfolio DORADO, PR 1,568,8411.6m $82.5m $82.5m 23.84% Unchanged
14 Woodline Partners LP 0.43% of their portfolio San Francisco, CA 1,542,9001.5m $81.2m $81.2m 0.43% Added +142.7k +142,729
15 FEDERATED HERMES, INC. 0.15% of their portfolio PITTSBURGH, PA 1,528,5871.5m $80.4m $80.4m 0.15% Added +484.0k +483,962
16 Driehaus Capital Management LLC 0.57% of their portfolio Chicago, IL 1,366,2441.4m $71.9m $71.9m 0.57% Added +112.1k +112,095
17 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,133,8571.1m $59.6m $59.6m 0.01% Added +1.0m +1,031,457
18 Cormorant Asset Management, LP 4.39% of their portfolio BOSTON, MA 1,120,0001.1m $58.9m $58.9m 4.39% Added +380.0k +380,000
19 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 1,102,3561.1m $58.0m $58.0m 0.02% Added +363.1k +363,068
20 Rock Springs Capital Management LP 3.49% of their portfolio Baltimore, MD 1,063,6081.1m $55.9m $55.9m 3.49% Added +82.9k +82,857
21 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,050,9421.1m $55.3m $55.3m 0.00% Reduced -640.9k -640,927
22 Pictet Asset Management Holding SA 0.05% of their portfolio CAROUGE, V8 915,252915.3k $48.1m $48.1m 0.05% Reduced -116.8k -116,849
23 Siren, L.L.C. 2.32% of their portfolio New York, NY 853,467853.5k $44.9m $44.9m 2.32% Reduced -190.0k -190,000
24 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.07% of their portfolio Boston, MA 833,397833.4k $43.8m $43.8m 0.07% New
25 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 833,361833.4k $43.8m $43.8m 0.01% Added +5.1k +5,144
26 JANUS HENDERSON GROUP PLC 0.02% of their portfolio LONDON, X0 829,558829.6k $43.6m $43.6m 0.02% Added +447.7k +447,747
27 SAMLYN CAPITAL, LLC 0.58% of their portfolio New York, NY 765,185765.2k $40.2m $40.2m 0.58% Reduced -1.6m -1,614,243
28 NOVO HOLDINGS A/S 2.78% of their portfolio HELLERUP, G7 750,000750.0k $39.5m $39.5m 2.78% Reduced -39.1k -39,129
29 SILVERARC CAPITAL MANAGEMENT, LLC 7.99% of their portfolio BOSTON, MA 741,972742.0k $39.0m $39.0m 7.99% Reduced -69.0k -69,049
30 PERCEPTIVE ADVISORS LLC 1.40% of their portfolio NEW YORK, NY 708,176708.2k $37.3m $37.3m 1.40% Added +17.7k +17,691
31 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 690,945690.9k $36.3m $36.3m 0.00% Added +395.8k +395,822
32 Caligan Partners LP 6.71% of their portfolio NEW YORK, NY 656,999657.0k $34.6m $34.6m 6.71% Added +280.0k +280,045
33 TANG CAPITAL MANAGEMENT LLC 1.60% of their portfolio SAN DIEGO, CA 600,000600.0k $31.6m $31.6m 1.60% Added +500.0k +500,000
34 UBS Group AG 0.01% of their portfolio ZURICH, V8 577,694577.7k $30.4m $30.4m 0.01% Reduced -285.1k -285,054
35 BAKER BROS. ADVISORS LP 0.29% of their portfolio NEW YORK, NY 574,377574.4k $30.2m $30.2m 0.29% Added +350.9k +350,877
36 Capital International Investors 0.00% of their portfolio Los Angeles, CA 491,244491.2k $25.8m $25.8m 0.00% New
37 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 459,216459.2k $24.2m $24.2m 0.00% Reduced -344.4k -344,372
38 T. Rowe Price Investment Management, Inc. 0.02% of their portfolio BALTIMORE, MD 456,265456.3k $24.0m $24.0m 0.02% Reduced -53.5k -53,496
39 GILEAD SCIENCES, INC. 1.86% of their portfolio FOSTER CITY, CA 452,527452.5k $23.8m $23.8m 1.86% Unchanged
40 Sofinnova Investments, Inc. 1.45% of their portfolio Menlo Park, CA 404,562404.6k $21.3m $21.3m 1.45% New
41 DAFNA Capital Management LLC 5.79% of their portfolio LOS ANGELES, CA 398,804398.8k $21.0m $21.0m 5.79% Reduced -63.0k -63,000
42 Darwin Global Management, Ltd. 0.88% of their portfolio ST. HELIER, Y9 395,738395.7k $21.0m $21.0m 0.88% New
43 Octagon Capital Advisors LP 4.49% of their portfolio NEW YORK, NY 389,000389.0k $20.5m $20.5m 4.49% Added +81.0k +81,000
44 Boxer Capital Management, LLC 9.66% of their portfolio San Diego, CA 365,000365.0k $19.2m $19.2m 9.66% Reduced -335.0k -335,000
45 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 335,594335.6k $17.7m $17.7m 0.02% Added +308.6k +308,605
46 Artia Global Partners LP 4.01% of their portfolio MIAMI, FL 296,750296.8k $15.6m $15.6m 4.01% Reduced -127.9k -127,890
47 First Turn Management, LLC 2.87% of their portfolio DEL MAR, CA 292,964293.0k $15.4m $15.4m 2.87% Reduced -171.0k -170,996
48 Deep Track Capital, LP 0.47% of their portfolio GREENWICH, CT 275,000275.0k $14.5m $14.5m 0.47% New
49 BOOTHBAY FUND MANAGEMENT, LLC 0.44% of their portfolio NEW YORK, NY 272,855272.9k $14.4m $14.4m 0.44% Added +112.9k +112,855
50 STEMPOINT CAPITAL LP 4.51% of their portfolio NEW YORK, NY 266,094266.1k $14.0m $14.0m 4.51% Reduced -80.7k -80,662
51 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 265,361265.4k $14.0m $14.0m 0.00% Added +5.6k +5,571
52 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 252,504252.5k $13.3m $13.3m 0.00% New
53 TimesSquare Capital Management, LLC 0.18% of their portfolio NEW YORK, NY 242,698242.7k $12.8m $12.8m 0.18% Reduced -101.0k -101,007
54 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 241,116241.1k $12.7m $12.7m 0.00% Added +8.4k +8,366
55 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 233,471233.5k $12.3m $12.3m 0.01% Added +76.9k +76,911
56 LORD, ABBETT & CO. LLC 0.04% of their portfolio JERSEY CITY, NJ 226,001226.0k $11.9m $11.9m 0.04% New
57 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 224,475224.5k $11.8m $11.8m 0.00% Added +112.0k +111,953
58 Saturn V Capital Management LP 4.78% of their portfolio AUSTIN, TX 224,260224.3k $11.8m $11.8m 4.78% Reduced -99.0k -98,951
59 Carmignac Gestion 0.17% of their portfolio PARIS, I0 214,722214.7k $11.3m $11.3m 0.17% Added +93.6k +93,561
60 TWO SIGMA ADVISERS, LP 0.02% of their portfolio NEW YORK, NY 194,800194.8k $10.2m $10.2m 0.02% Reduced -359.6k -359,600
61 Decheng Capital LLC 2.51% of their portfolio MENLO PARK, CA 189,098189.1k $9.9m $9.9m 2.51% Unchanged
62 PFM Health Sciences, LP 0.84% of their portfolio SAN FRANCISCO, CA 183,882183.9k $9.7m $9.7m 0.84% New
63 Impax Asset Management Group plc 0.05% of their portfolio LONDON, X0 180,000180.0k $9.5m $9.5m 0.05% Unchanged
64 Point72 Asset Management, L.P. 0.02% of their portfolio STAMFORD, CT 170,777170.8k $9.0m $9.0m 0.02% New
65 Parkman Healthcare Partners LLC 0.99% of their portfolio STAMFORD, CT 162,980163.0k $8.6m $8.6m 0.99% Added +134.8k +134,750
66 NAN FUNG TRINITY (HK) LTD 0.95% of their portfolio CENTRAL, HONG KONG, K3 150,338150.3k $7.9m $7.9m 0.95% New
67 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 149,962150.0k $7.9m $7.9m 0.00% Added +105.9k +105,877
68 STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio MADISON, WI 149,543149.5k $7.9m $7.9m 0.02% Reduced -8.8k -8,765
69 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 147,902147.9k $7.8m $7.8m 0.01% Added +96.9k +96,885
70 Ally Bridge Group (NY) LLC 6.45% of their portfolio NEW YORK, NY 140,208140.2k $7.4m $7.4m 6.45% Added +62.3k +62,312
71 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 132,576132.6k $7.0m $7.0m 0.01% Added +131.0k +130,987
72 Eversept Partners, LP 0.69% of their portfolio NEW YORK, NY 130,924130.9k $6.9m $6.9m 0.69% Added +60.6k +60,595
73 Aberdeen Group plc 0.01% of their portfolio EDINBURGH, X0 125,768125.8k $6.6m $6.6m 0.01% Reduced -46.3k -46,295
74 Alyeska Investment Group, L.P. 0.02% of their portfolio CHICAGO, IL 125,000125.0k $6.6m $6.6m 0.02% Added +56.8k +56,818
75 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 119,094119.1k $6.3m $6.3m 0.01% Reduced -206.8k -206,767
76 CenterBook Partners LP 0.34% of their portfolio GREENWICH, CT 117,056117.1k $6.2m $6.2m 0.34% Added +26.0k +25,968
77 Rhenman & Partners Asset Management AB 0.77% of their portfolio Stockholm, V7 116,000116.0k $6.1m $6.1m 0.77% Added +41.5k +41,500
78 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 113,508113.5k $6.0m $6.0m 0.00% Added +359 +359
79 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 111,440111.4k $5.9m $5.9m 0.00% Added +102.2k +102,160
80 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 106,618106.6k $5.6m $5.6m 0.00% Reduced -18.2k -18,177
81 ExodusPoint Capital Management, LP 0.06% of their portfolio NEW YORK, NY 98,52998.5k $5.2m $5.2m 0.06% Added +52.9k +52,905
82 Swiss National Bank 0.00% of their portfolio ZURICH, V8 92,35492.4k $4.9m $4.9m 0.00% Reduced -500 -500
83 Moody Aldrich Partners LLC 0.94% of their portfolio MARBLEHEAD, MA 92,00992.0k $4.8m $4.8m 0.94% Reduced -16.3k -16,272
84 HighVista Strategies LLC 1.73% of their portfolio BOSTON, MA 89,76289.8k $4.7m $4.7m 1.73% Added +34.7k +34,723
85 TD Asset Management Inc 0.00% of their portfolio Toronto, A6 89,11089.1k $4.7m $4.7m 0.00% Added +17.9k +17,852
86 Granahan Investment Management, LLC 0.17% of their portfolio WALTHAM, MA 80,61980.6k $4.2m $4.2m 0.17% Reduced -15.1k -15,101
87 READYSTATE ASSET MANAGEMENT LP 0.17% of their portfolio CHICAGO, IL 78,50078.5k $4.1m $4.1m 0.17% New
88 AXA S.A. 0.01% of their portfolio PARIS, I0 75,02475.0k $3.9m $3.9m 0.01% Added +10.1k +10,080
89 Atom Investors LP 0.34% of their portfolio AUSTIN, TX 73,78973.8k $3.9m $3.9m 0.34% Reduced -40.4k -40,369
90 Affinity Asset Advisors, LLC 0.54% of their portfolio NEW YORK, NY 70,00070.0k $3.7m $3.7m 0.54% Reduced -252.0k -251,962
91 Troluce Capital Advisors LLC 1.87% of their portfolio DORADO, PR 70,00070.0k $3.7m $3.7m 1.87% New
92 Aquatic Capital Management LLC 0.07% of their portfolio CHICAGO, IL 63,26063.3k $3.3m $3.3m 0.07% Added +47.2k +47,228
93 Sio Capital Management, LLC 1.32% of their portfolio NEW YORK, NY 62,71962.7k $3.3m $3.3m 1.32% New
94 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 60,95261.0k $3.2m $3.2m 0.00% Added +8.3k +8,266
95 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 59,89359.9k $3.2m $3.2m 0.00% Added +10.0k +9,987
96 Atle Fund Management AB 1.35% of their portfolio STOCKHOLM, V7 59,88959.9k $3.2m $3.2m 1.35% Added +24.6k +24,597
97 HARBOR CAPITAL ADVISORS, INC. 0.12% of their portfolio CHICAGO, IL 56,42156.4k $3.0m $3.0m 0.12% Reduced -8.0k -7,953
98 DekaBank Deutsche Girozentrale 0.01% of their portfolio FRANKFURT, 2M 56,00056.0k $2.9m $2.9m 0.01% Unchanged
99 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 52,03452.0k $2.7m $2.7m 0.00% New
100 NEOS Investment Management LLC 0.03% of their portfolio Westport, CT 51,21551.2k $2.7m $2.7m 0.03% Added +5.7k +5,657