Luminus Management LLC Decreases Holdings in Mersana Therapeutics, Inc. $MRSN

by · The Cerbat Gem

Luminus Management LLC reduced its stake in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN – Free Report) by 95.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 989,314 shares during the period. Mersana Therapeutics comprises 0.3% of Luminus Management LLC’s investment portfolio, making the stock its 15th biggest position. Luminus Management LLC’s holdings in Mersana Therapeutics were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of MRSN. Invesco Ltd. raised its stake in shares of Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after buying an additional 59,991 shares during the period. JPMorgan Chase & Co. lifted 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 valued at $39,000 after purchasing an additional 79,390 shares during the last quarter. Algert Global LLC increased its stake in shares of Mersana Therapeutics by 124.7% in the first quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after purchasing an additional 74,930 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Mersana Therapeutics in the second quarter valued at approximately $68,000. Finally, Nuveen LLC purchased a new position in Mersana Therapeutics in the 1st quarter valued at approximately $80,000. Institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Price Performance

Shares of MRSN opened at $28.59 on Tuesday. Mersana Therapeutics, Inc. has a 1-year low of $5.21 and a 1-year high of $56.00. The company has a market capitalization of $142.95 million, a P/E ratio of -2.06 and a beta of 0.43. The firm’s 50 day simple moving average is $17.84 and its 200 day simple moving average is $11.35.

Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) last issued its quarterly earnings results on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.07). The firm had revenue of $11.01 million for the quarter, compared to analysts’ expectations of $14.20 million. On average, equities analysts anticipate that Mersana Therapeutics, Inc. will post -0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MRSN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Monday, December 8th. William Blair lowered Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Thursday, November 13th. Truist Financial cut Mersana Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $36.00 to $30.75 in a research report on Thursday, November 13th. Leerink Partnrs downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Finally, BTIG Research cut shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, November 13th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $38.19.

View Our Latest Report on Mersana Therapeutics

About Mersana Therapeutics

(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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