Engineers Gate Manager LP Purchases New Stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Engineers Gate Manager LP purchased a new stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 58,500 shares of the company’s stock, valued at approximately $395,000.

Several other hedge funds have also bought and sold shares of MRSN. Swiss National Bank grew its position in Mersana Therapeutics by 7.6% in the 1st quarter. Swiss National Bank now owns 135,996 shares of the company’s stock valued at $543,000 after purchasing an additional 9,600 shares during the period. JPMorgan Chase & Co. lifted its stake in Mersana Therapeutics by 880.4% during the 1st quarter. JPMorgan Chase & Co. now owns 309,629 shares of the company’s stock valued at $1,236,000 after acquiring an additional 278,047 shares in the last quarter. Bank of Montreal Can bought a new position in Mersana Therapeutics during the 1st quarter valued at $4,665,000. BlackRock Inc. lifted its stake in Mersana Therapeutics by 2.0% during the 1st quarter. BlackRock Inc. now owns 7,626,196 shares of the company’s stock valued at $30,427,000 after acquiring an additional 146,967 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Mersana Therapeutics by 257.4% during the 1st quarter. Federated Hermes Inc. now owns 723,933 shares of the company’s stock valued at $2,888,000 after acquiring an additional 521,350 shares in the last quarter. Institutional investors and hedge funds own 92.40% of the company’s stock.

Mersana Therapeutics Trading Down 0.9 %

NASDAQ MRSN opened at $4.58 on Tuesday. The stock has a market capitalization of $494.78 million, a price-to-earnings ratio of -2.11 and a beta of 1.82. Mersana Therapeutics, Inc. has a one year low of $2.68 and a one year high of $8.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.49 and a quick ratio of 3.49. The business’s fifty day moving average is $6.02 and its 200-day moving average is $6.59.

Analyst Ratings Changes

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

Insider Transactions at Mersana Therapeutics

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

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.