Price T Rowe Associates Inc. MD Decreases Stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Price T Rowe Associates Inc. MD lowered its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 37.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 62,093 shares of the company’s stock after selling 36,985 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.05% of Mersana Therapeutics worth $89,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MRSN. Avanza Fonder AB purchased a new position in Mersana Therapeutics in the 4th quarter worth approximately $81,000. SG Americas Securities LLC boosted its holdings in Mersana Therapeutics by 28.7% in the 4th quarter. SG Americas Securities LLC now owns 112,291 shares of the company’s stock worth $161,000 after acquiring an additional 25,058 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Mersana Therapeutics in the 4th quarter worth approximately $37,000. Sei Investments Co. purchased a new position in Mersana Therapeutics in the 4th quarter worth approximately $99,000. Finally, Geode Capital Management LLC boosted its holdings in Mersana Therapeutics by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,442,250 shares of the company’s stock worth $3,493,000 after acquiring an additional 29,035 shares during the period. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

Shares of MRSN opened at $0.34 on Monday. The business’s 50 day moving average is $0.37 and its two-hundred day moving average is $1.00. Mersana Therapeutics, Inc. has a 52-week low of $0.26 and a 52-week high of $2.83. The firm has a market cap of $42.39 million, a price-to-earnings ratio of -0.56 and a beta of 1.32. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. The business had revenue of $2.75 million for the quarter, compared to analyst estimates of $6.05 million. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. Analysts forecast that Mersana Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MRSN shares. Wedbush restated an “outperform” rating and issued a $3.00 price target on shares of Mersana Therapeutics in a report on Thursday. Truist Financial upped their price target on Mersana Therapeutics from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday. William Blair assumed coverage on Mersana Therapeutics in a research report on Thursday, February 6th. They issued an “outperform” rating on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $5.00 target price on shares of Mersana Therapeutics in a research report on Friday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $5.20.

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.