Mersana Therapeutics (NASDAQ:MRSN) Shares Up 0.4% – Here’s Why

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) shot up 0.4% during trading on Monday . The stock traded as high as $7.40 and last traded at $7.17. 30,072 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 66,734 shares. The stock had previously closed at $7.14.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MRSN. Truist Financial reduced their target price on Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. William Blair reiterated an “outperform” rating on shares of Mersana Therapeutics in a research note on Tuesday, June 3rd. BTIG Research reiterated a “buy” rating and set a $17.00 price objective on shares of Mersana Therapeutics in a research note on Wednesday, August 13th. Guggenheim dropped their price objective on Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered Mersana Therapeutics to a “strong sell” rating in a research note on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $56.60.

Mersana Therapeutics Price Performance

The stock has a 50-day moving average of $7.55 and a 200 day moving average of $8.78. The stock has a market capitalization of $35.78 million, a price-to-earnings ratio of -0.49 and a beta of 0.86.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($4.08) EPS for the quarter, missing analysts’ consensus estimates of ($3.75) by ($0.33). The firm had revenue of $3.06 million during the quarter, compared to analyst estimates of $6.06 million. Mersana Therapeutics had a negative return on equity of 990.16% and a negative net margin of 212.94%. Sell-side analysts anticipate that Mersana Therapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Mersana Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in Mersana Therapeutics during the fourth quarter worth about $65,000. Invesco Ltd. boosted its holdings in Mersana Therapeutics by 109.3% during the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after buying an additional 59,991 shares during the last quarter. Algert Global LLC boosted its holdings in Mersana Therapeutics by 124.7% during the first quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after buying an additional 74,930 shares during the last quarter. Cerity Partners LLC boosted its holdings in Mersana Therapeutics by 31.4% during the second quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock worth $95,000 after buying an additional 76,570 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Mersana Therapeutics by 156.6% during the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after buying an additional 79,390 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.

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.