Mersana Therapeutics (NASDAQ:MRSN) Trading Up 2.7%

Mersana Therapeutics, Inc. (NASDAQ:MRSNGet Free Report)’s share price rose 2.7% on Monday . The stock traded as high as $1.97 and last traded at $1.88. Approximately 1,278,267 shares changed hands during trading, a decline of 35% from the average daily volume of 1,981,425 shares. The stock had previously closed at $1.83.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised shares of Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.29.

Get Our Latest Research Report on MRSN

Mersana Therapeutics Stock Up 2.6 %

The stock has a market cap of $239.83 million, a price-to-earnings ratio of -1.72 and a beta of 1.54. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $2.36 and its 200-day moving average price is $3.28.

Mersana Therapeutics (NASDAQ:MRSNGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The firm had revenue of $9.25 million for the quarter, compared to the consensus estimate of $8.50 million. During the same quarter in the prior year, the company posted ($0.52) earnings per share. The business’s revenue was up 18.5% on a year-over-year basis. On average, sell-side analysts expect that Mersana Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Mersana Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after acquiring an additional 36,782 shares in the last quarter. Walleye Capital LLC raised its position in shares of Mersana Therapeutics by 1,205.0% in the 3rd quarter. Walleye Capital LLC now owns 2,021,467 shares of the company’s stock worth $2,567,000 after purchasing an additional 1,866,568 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in Mersana Therapeutics in the 1st quarter worth about $2,114,000. Acadian Asset Management LLC raised its position in Mersana Therapeutics by 166.7% in the 1st quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after buying an additional 293,115 shares during the last quarter. Finally, Readystate Asset Management LP purchased a new position in Mersana Therapeutics in the 4th quarter worth about $684,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

Mersana Therapeutics Company Profile

(Get Free Report)

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.

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