Mersana Therapeutics Target of Unusually High Options Trading (NASDAQ:MRSN)

Mersana Therapeutics, Inc. (NASDAQ:MRSN) was the recipient of some unusual options trading activity on Thursday. Stock investors purchased 8,320 call options on the stock. This represents an increase of 1,954% compared to the typical daily volume of 405 call options.

Hedge Funds Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in Mersana Therapeutics during the 3rd quarter worth $28,000. Victory Capital Management Inc. purchased a new stake in shares of Mersana Therapeutics in the 4th quarter valued at about $30,000. Nisa Investment Advisors LLC boosted its position in shares of Mersana Therapeutics by 479.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock valued at $41,000 after purchasing an additional 14,600 shares during the period. Russell Investments Group Ltd. grew its stake in Mersana Therapeutics by 976.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after buying an additional 8,575 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Mersana Therapeutics in the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

Wall Street Analyst Weigh In

MRSN has been the topic of several recent analyst reports. BTIG Research upgraded shares of Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday, February 29th. Guggenheim upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and raised their target price for the company from $2.00 to $7.00 in a report on Thursday, February 29th. Truist Financial upgraded shares of Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, February 29th. Finally, 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 report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.29.

Mersana Therapeutics Stock Performance

Shares of MRSN opened at $2.47 on Friday. Mersana Therapeutics has a 1 year low of $0.80 and a 1 year high of $9.62. The stock has a market capitalization of $299.01 million, a PE ratio of -1.64 and a beta of 1.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.36 and a current ratio of 3.36. The stock has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $3.08.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). Mersana Therapeutics had a negative net margin of 465.80% and a negative return on equity of 282.36%. The company had revenue of $10.70 million during the quarter, compared to the consensus estimate of $22.59 million. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. The firm’s quarterly revenue was down 27.1% on a year-over-year basis. On average, analysts predict that Mersana Therapeutics will post -0.6 earnings per share for the current fiscal year.

About Mersana Therapeutics

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.