United Super Trims MRK Holdings Amidst Cancer Therapy Breakthroughs

United Super Pty Ltd, as trustee for the Construction & Building Unions Superannuation Fund, has made significant adjustments to its holdings in Merck & Co., Inc. (NYSE:MRK) over the second quarter.

The fund sold 106,500 shares during this period, reducing its overall stake by 21.3% to 393,305 shares.

Its total holding in Merck is now valued at $50.54 million.

This news comes amidst a flurry of activity surrounding the company's performance and future prospects.

Merck has reported positive results from its personalized cancer therapy trial with Moderna, which showed improved recurrence-free and distant metastasis-free survival for high-risk melanoma patients when added to Keytruda.

Multiple Wall Street firms have raised their price targets for MRK, including Goldman Sachs, BMO, and UBS, while Morgan Stanley has upgraded the stock to Overweight with a $179 target.