Mersana Therapeutics (NASDAQ:MRSN) Trading Down 1.5% – Here’s Why

by · The Markets Daily

Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Free Report) traded down 1.5% during mid-day trading on Monday . The company traded as low as $8.96 and last traded at $9.44. 42,041 shares were traded during mid-day trading, a decline of 37% from the average session volume of 66,755 shares. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $17.00 price objective on shares of Mersana Therapeutics in a report on Wednesday, August 13th. Guggenheim lowered their price objective on shares of Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Truist Financial lowered their target price on shares of Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.60.

Check Out Our Latest Stock Report on Mersana Therapeutics

Mersana Therapeutics Stock Down 1.5%

The firm has a market capitalization of $47.11 million, a price-to-earnings ratio of -0.65 and a beta of 0.92. The stock’s fifty day moving average is $8.36 and its two-hundred day moving average is $8.39.

Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($4.08) EPS for the quarter, missing the consensus estimate of ($3.75) by ($0.33). The business had revenue of $3.06 million for the quarter, compared to analysts’ expectations of $6.06 million. As a group, analysts anticipate that Mersana Therapeutics, Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mersana Therapeutics in the first quarter valued at $45,000. JPMorgan Chase & Co. grew its stake in shares of Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock valued at $39,000 after acquiring an additional 79,390 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Mersana Therapeutics in the first quarter valued at about $1,028,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Mersana Therapeutics by 19.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,333,124 shares of the company’s stock valued at $459,000 after acquiring an additional 221,126 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Mersana Therapeutics in the first quarter valued at about $102,000. 93.92% of the stock is currently owned by institutional investors and hedge funds.

About Mersana Therapeutics

(Get 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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