Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN – Free Report) by 71.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,051 shares of the company’s stock after selling 149,382 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Mersana Therapeutics worth $243,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Swiss National Bank boosted its holdings in Mersana Therapeutics by 7.6% during the first quarter. Swiss National Bank now owns 135,996 shares of the company’s stock valued at $543,000 after acquiring an additional 9,600 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Mersana Therapeutics by 880.4% in the first quarter. JPMorgan Chase & Co. now owns 309,629 shares of the company’s stock valued at $1,236,000 after acquiring an additional 278,047 shares during the last quarter. Bank of Montreal Can bought a new position in Mersana Therapeutics in the 1st quarter worth approximately $4,665,000. BlackRock Inc. grew its holdings in Mersana Therapeutics by 2.0% during the 1st quarter. BlackRock Inc. now owns 7,626,196 shares of the company’s stock worth $30,427,000 after acquiring an additional 146,967 shares during the period. Finally, Federated Hermes Inc. lifted its position in Mersana Therapeutics by 257.4% in the 1st quarter. Federated Hermes Inc. now owns 723,933 shares of the company’s stock valued at $2,888,000 after acquiring an additional 521,350 shares in the last quarter. 93.45% of the stock is owned by institutional investors and hedge funds.
Mersana Therapeutics Trading Down 1.6 %
Shares of MRSN opened at $1.21 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.97 and a quick ratio of 3.97. Mersana Therapeutics, Inc. has a 1 year low of $0.80 and a 1 year high of $9.62. The company has a 50 day simple moving average of $2.51 and a two-hundred day simple moving average of $4.69. The firm has a market cap of $145.82 million, a P/E ratio of -0.59 and a beta of 1.47.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. BTIG Research cut shares of Mersana Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, July 27th. Truist Financial reiterated a “hold” rating on shares of Mersana Therapeutics in a research report on Thursday, July 27th. Wedbush reissued a “neutral” rating and set a $2.00 price target on shares of Mersana Therapeutics in a research report on Tuesday, August 8th. Citigroup lowered shares of Mersana Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, July 27th. Finally, JPMorgan Chase & Co. cut shares of Mersana Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.57.
Mersana Therapeutics Company Profile
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 a research and development collaborations with Janssen Biotech, Inc and Merck KGaA, as well as collaboration agreement with Asana BioSciences, LLC for the development of ADC product candidates.
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