Merus N.V.

MRUS • NASDAQ

Merus N.V. is a biotechnology company in the healthcare sector on NASDAQ, led by Fabian Zohren, with a market cap of $7.3B. As of Q3 2025, 91% of shares are held by 259 institutional investors, with Paradigm Biocapital Advisors LP as the largest holder at 5.77%.

Chief Medical OfficerFabian Zohren

Market Cap$7.3B

Biotechnology

Healthcare

Employees229.0

Websitemerus.nl

Country

United States of America

Overview

Overview of institutional ownership in MRUS as of Q3 2025 with a market cap of $7.1B

All Institutions

Institutions: 259
Value Held: $6.5B
Shares Held: 69.0M
Avg Position: $25.1M
Median Position: $4.0M

Hedge Funds

Hedge Funds: 78
Value Held: $3.5B
Shares Held: 36.9M
Avg Position: $44.5M
Median Position: $14.0M

Ownership Breakdown

Institutional (non-HF)

42.39%

$3.0B

Hedge Funds

48.64%

$3.5B

Retail & Other

8.97%

$640.0M

Based on market cap of $7.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MRUS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	Dr. Senai Nmn Asefaw CIO	$411.8M 12.18% of portfolio	5.77% 4.4M shares	Q2 2024 Held for 1y 5m	$3.4B
venBio Select Advisor LLC RIA/Wealth	Behzad Aghazadeh Managing Partner	$333.5M 4.31% of portfolio	4.67% 3.5M shares	Q3 2023 Held for 2y 2m	$7.7B
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	$331.9M 16.20% of portfolio	4.65% 3.5M shares	Q3 2021 Held for 4y 2m	$2.0B
DEERFIELD MANAGEMENT CO /NY Hedge Fund•Long/Short	James Edward Flynn President	$286.9M 4.75% of portfolio	4.02% 3.0M shares	Q4 2021 Held for 3y 11m	$6.0B
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy	Matthew Atcheson Leffers President	$268.3M 4.45% of portfolio	3.76% 2.9M shares	Q3 2025 Held for 2 months	$6.0B
FMR LLC Institution	-	$264.6M 0.01% of portfolio	3.71% 2.8M shares	Q1 2021 Held for 4y 8m	$1.92T
B BlackRock, Inc. Institution	-	$204.5M 0.00% of portfolio	2.87% 2.2M shares	Q1 2019 Held for 6y 8m	$5.67T
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	William Albert Muggia CEO	$200.8M 0.84% of portfolio	2.81% 2.1M shares	Q3 2024 Held for 1y 2m	$23.8B
RTW INVESTMENTS, LLC Hedge Fund•Sector	Peter M Fong President	$190.7M 2.36% of portfolio	2.67% 2.0M shares	Q2 2023 Held for 2y 5m	$8.1B
Woodline Partners LP Hedge Fund•Long/Short	Karl Heinz Kroeker CIO	$157.6M 0.74% of portfolio	2.21% 1.7M shares	Q4 2021 Held for 3y 11m	$21.3B

Net Capital Flow

Institutional buying and selling activity for MRUS in Q3 2025

Net Flow: −$1.8B
Buyers: 71
Sellers: 113
Total Bought: +$736.9M
Total Sold: −$2.5B
Avg Position: $24.1M

Biggest Buyers

Institution	Net Bought	Current Position
B BlackRock, Inc. Institution	+$105.5M +1.1M shares	$204.5M 2.2M shares
GOLDMAN SACHS GROUP INC Institution	+$102.5M +1.1M shares	$112.5M 1.2M shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	+$68.3M +725.8K shares	$69.7M 740.4K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$64.3M +683.2K shares	$65.8M 699.0K shares
PERCEPTIVE ADVISORS LLC Hedge Fund•Long/Short	+$60.7M +644.9K shares	$127.4M 1.4M shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$46.6M +494.9K shares	$47.0M 498.9K shares
Q Qube Research & Technologies Ltd Institution	+$39.4M +418.0K shares	$39.8M 422.3K shares
venBio Select Advisor LLC RIA/Wealth	+$36.4M +386.9K shares	$333.5M 3.5M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$26.3M +278.9K shares	$57.9M 614.5K shares
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	+$20.3M +215.8K shares	$26.9M 285.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
FMR LLC Institution	−$440.6M −4.7M shares	$264.6M 2.8M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$307.6M −3.3M shares	$43.2M 459.1K shares
Holocene Advisors, LP Hedge Fund•Long/Short	−$193.8M −2.1M shares	$15.7M 166.7K shares
RTW INVESTMENTS, LLC Hedge Fund•Sector	−$186.0M −2.0M shares	$190.7M 2.0M shares
FRANKLIN RESOURCES INC Institution	−$125.8M −1.3M shares	$47.2M 501.6K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	−$111.9M −1.2M shares	$16.7M 177.5K shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$110.6M −1.2M shares	$102.4M 1.1M shares
Polar Capital Holdings Plc Long Only Manager	−$84.7M −1.6M shares	Sold Off 0 shares
SAMLYN CAPITAL, LLC Hedge Fund•Multi-Strategy	−$68.0M −721.9K shares	$4.1M 43.2K shares
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	−$58.9M −1.1M shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MRUS in Q3 2025

New Positions: 78
New Value: $1.3B
Exited Positions: 42
Exited Value: $386.3M

New Positions

Institution	Position Value
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy	$268.3M 2.9M shares
GLAZER CAPITAL, LLC Hedge Fund•Multi-Strategy	$152.5M 1.6M shares
O Omni Event Management Ltd Institution	$99.2M 1.1M shares
Magnetar Financial LLC Hedge Fund•Multi-Strategy	$98.4M 1.0M shares
Pentwater Capital Management LP Hedge Fund•Event Driven	$91.3M 970.0K shares
TIG Advisors, LLC Hedge Fund•Multi-Strategy	$81.7M 868.1K shares
ALPINE ASSOCIATES MANAGEMENT INC. Hedge Fund•Merger Arb	$78.7M 835.6K shares
S SOROS FUND MANAGEMENT LLC Institution	$38.1M 405.0K shares
M Man Group plc Institution	$34.1M 361.7K shares
F FIL Ltd Institution	$31.8M 338.0K shares

Exited Positions

Institution	Previous Position
Polar Capital Holdings Plc Long Only Manager	$84.7M 1.6M shares
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	$58.9M 1.1M shares
S Siren, L.L.C. Institution	$44.9M 853.5K shares
SILVERARC CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$39.0M 742.0K shares
C Capital International Investors Institution	$25.8M 491.2K shares
D Darwin Global Management, Ltd. Institution	$21.0M 395.7K shares
Deep Track Capital, LP Hedge Fund•Long/Short	$14.5M 275.0K shares
StemPoint Capital LP Hedge Fund•Long/Short	$14.0M 266.1K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$11.8M 224.5K shares
I Impax Asset Management Group plc Long Only Manager	$9.5M 180.0K shares

Options Activity

Institutions with the largest Call and Put options positions in MRUS as of Q3 2025

Call Positions: 17
Call Value: $155.5M
Put Positions: 13
Put Value: $71.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$39.3M 4.2K contracts
L LMR Partners LLP Institution	$28.2M 3.0K contracts
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	$28.2M 3.0K contracts
S SPHERA FUNDS MANAGEMENT LTD. Institution	$14.1M 1.5K contracts
Caption Management, LLC Hedge Fund•Long/Short	$10.9M 1.2K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$8.9M 940.0 contracts
GOLDMAN SACHS GROUP INC Institution	$8.4M 896.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$7.2M 760.0 contracts
S SIG BROKERAGE, LP Institution	$5.6M 600.0 contracts
N NOMURA HOLDINGS INC Institution	$3.8M 402.0 contracts

Put Positions

Institution	Position Value
GOLDMAN SACHS GROUP INC Institution	$23.5M 2.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$22.6M 2.4K contracts
Caption Management, LLC Hedge Fund•Long/Short	$9.9M 1.1K contracts
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$5.8M 611.0 contracts
N NOMURA HOLDINGS INC Institution	$3.2M 343.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.9M 307.0 contracts
J JANE STREET GROUP, LLC Institution	$2.6M 271.0 contracts
GLAZER CAPITAL, LLC Hedge Fund•Multi-Strategy	$656.4K 69.7 contracts
Decagon Asset Management LLP Hedge Fund•Event Driven	$188.3K 20.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$18.8K 2.0 contracts

Most Committed Institutions

Institutions with MRUS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
L Lynx1 Capital Management LP Hedge Fund•Sector	Weston Agnew Nichols CIO	29.40% $144.4M	2.02% 1.5M shares	Q4 2021 Held for 3y 11m	$491.3M
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	16.20% $331.9M	4.65% 3.5M shares	Q3 2021 Held for 4y 2m	$2.0B
T Twin Securities, Inc. Hedge Fund•Event Driven	David Joel Simon President	14.72% $29.2M	0.41% 310.3K shares	Q3 2025 Held for 2 months	$198.5M
Paradigm Biocapital Advisors LP Hedge Fund•Long/Short	Dr. Senai Nmn Asefaw CIO	12.18% $411.8M	5.77% 4.4M shares	Q2 2024 Held for 1y 5m	$3.4B
O Omni Event Management Ltd Institution	-	11.52% $99.2M	1.39% 1.1M shares	Q3 2025 Held for 2 months	$860.9M
S Sand Grove Capital Management LLP Hedge Fund•Event Driven	Daniel Caplan CEO	11.01% $22.5M	0.32% 239.4K shares	Q3 2025 Held for 2 months	$204.7M
A Athos Capital Ltd Institution	-	8.08% $7.5M	0.11% 80.0K shares	Q3 2025 Held for 2 months	$93.2M
GLAZER CAPITAL, LLC Hedge Fund•Multi-Strategy	Paul Jay Glazer CEO	6.91% $152.5M	2.14% 1.6M shares	Q3 2025 Held for 2 months	$2.2B
H HARVEST MANAGEMENT LLC Hedge Fund•Event Driven	Nathaniel Lee Bohrer Managing Partner	6.02% $12.2M	0.17% 130.0K shares	Q3 2025 Held for 2 months	$203.3M
F First Turn Management, LLC Hedge Fund•Long/Short	Lisa Gable Wheatley Managing Partner	5.26% $35.0M	0.49% 372.0K shares	Q2 2024 Held for 1y 5m	$666.0M

Hedge Fund Spotlight

Discover hedge funds investing in MRUS

ADAR1 Capital Management, LLC

Hedge Fund • Long/Short

Portfolio ManagerDaniel Pawel Schneeberger

Portfolio Value: $993.7M
Positions: 191
Last Reported: Q3 2025

Sector Allocation

Position in Merus N.V.

Market Value: $3.1M
Shares Held: 33.3K
Portfolio Weight: 0.32%
Owned Since: 2023-Q4

Top Holding	Sector	Market Value	Weight
1 ABVX Abivax ABVX	Unknown Unknown	$114.7M	11.54%
2 Keros Therapeutics KROS	Biotechnology Healthcare	$85.3M	8.58%
3 Protagonist Therapeutics PTGX	Biotechnology Healthcare	$65.7M	6.61%

View full profile

Merus N.V.

Overview

All Institutions

Hedge Funds

Ownership Breakdown

Biggest Investors

Net Capital Flow

Biggest Buyers

Biggest Sellers

Entry and Exit Activity

New Positions

Exited Positions

Options Activity

Call Positions

Put Positions

Most Committed Institutions

Hedge Fund Spotlight

Position in Merus N.V.

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