Ergoteles LLC Acquires Shares of 32,161 Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Ergoteles LLC acquired a new stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 32,161 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently added to or reduced their stakes in MRSN. IFP Advisors Inc acquired a new stake in Mersana Therapeutics in the third quarter valued at approximately $36,000. Quantbot Technologies LP purchased a new position in shares of Mersana Therapeutics during the first quarter valued at approximately $37,000. Washington University bought a new stake in Mersana Therapeutics during the second quarter worth $43,000. Virtu Financial LLC purchased a new stake in Mersana Therapeutics in the 1st quarter valued at $53,000. Finally, Point72 Hong Kong Ltd lifted its stake in Mersana Therapeutics by 55.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 14,280 shares of the company’s stock valued at $57,000 after acquiring an additional 5,107 shares in the last quarter. Institutional investors and hedge funds own 92.40% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian Deschuytner sold 5,131 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $5.74, for a total transaction of $29,451.94. Following the completion of the transaction, the chief financial officer now directly owns 32,781 shares of the company’s stock, valued at approximately $188,162.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Mersana Therapeutics news, CEO Anna Protopapas sold 17,346 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $5.74, for a total transaction of $99,566.04. Following the completion of the transaction, the chief executive officer now directly owns 48,733 shares of the company’s stock, valued at $279,727.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Deschuytner sold 5,131 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $5.74, for a total value of $29,451.94. Following the transaction, the chief financial officer now directly owns 32,781 shares of the company’s stock, valued at $188,162.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,719 shares of company stock valued at $164,847. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MRSN shares. Truist Financial began coverage on shares of Mersana Therapeutics in a research note on Monday, November 21st. They issued a “buy” rating and a $12.00 target price for the company. Citigroup began coverage on shares of Mersana Therapeutics in a research report on Friday, January 20th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, BTIG Research dropped their target price on shares of Mersana Therapeutics from $26.00 to $16.00 in a research report on Wednesday, March 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.50.

Mersana Therapeutics Trading Down 6.5 %

NASDAQ MRSN opened at $5.30 on Tuesday. The stock has a market capitalization of $572.56 million, a price-to-earnings ratio of -2.42 and a beta of 1.82. The business’s fifty day moving average is $6.07 and its 200-day moving average is $6.66. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.49 and a quick ratio of 3.49. Mersana Therapeutics, Inc. has a one year low of $2.68 and a one year high of $8.34.

Mersana Therapeutics Company Profile

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Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing antibody drug conjugates that offer clinical benefit for cancer patients with significant unmet need. Its product candidates are Upifitamab Rilsodotin (UpRi), XMT-1536, and XMT-1592. The company was founded by Mikhail Papisov in 2001 and is headquartered in Cambridge, MA.