Mersana Therapeutics (NASDAQ:MRSN) Shares Gap Up to $4.55

Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Rating)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.55, but opened at $4.91. Mersana Therapeutics shares last traded at $4.71, with a volume of 179,022 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MRSN shares. Truist Financial started coverage on Mersana Therapeutics in a research report on Monday, November 21st. They set a “buy” rating and a $12.00 target price for the company. JPMorgan Chase & Co. upgraded Mersana Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 target price for the company in a research report on Thursday. Citigroup started coverage on Mersana Therapeutics in a research report on Friday, January 20th. They set a “buy” rating and a $12.00 target price for the company. Finally, BTIG Research cut their target price on Mersana Therapeutics from $26.00 to $16.00 in a research report on Wednesday, March 1st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $14.71.

Mersana Therapeutics Trading Down 3.5 %

The company has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $6.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.49 and a current ratio of 3.49. The stock has a market cap of $504.50 million, a P/E ratio of -2.21 and a beta of 1.82.

Mersana Therapeutics (NASDAQ:MRSN – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.03. Mersana Therapeutics had a negative return on equity of 178.80% and a negative net margin of 768.26%. The firm had revenue of $14.69 million during the quarter, compared to the consensus estimate of $27.85 million. On average, sell-side analysts forecast that Mersana Therapeutics, Inc. will post -1.73 EPS for the current fiscal year.

Insider Activity

In other news, CFO Brian Deschuytner sold 5,131 shares of Mersana Therapeutics stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $5.74, for a total value of $29,451.94. Following the completion of the sale, 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 link. In other news, CFO Brian Deschuytner sold 5,131 shares of Mersana Therapeutics stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $5.74, for a total value of $29,451.94. Following the completion of the sale, 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 link. Also, CEO Anna Protopapas sold 17,346 shares of Mersana Therapeutics stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $5.74, for a total value of $99,566.04. Following the completion of the sale, the chief executive officer now directly owns 48,733 shares of the company’s stock, valued at $279,727.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,719 shares of company stock valued at $164,847. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Mersana Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MRSN. Swiss National Bank increased its stake in shares of 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 buying an additional 9,600 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Mersana Therapeutics by 880.4% during the first quarter. JPMorgan Chase & Co. now owns 309,629 shares of the company’s stock worth $1,236,000 after purchasing an additional 278,047 shares during the period. Bank of Montreal Can acquired a new stake in shares of Mersana Therapeutics during the first quarter worth $4,665,000. BlackRock Inc. grew its stake in shares of Mersana Therapeutics by 2.0% during the first quarter. BlackRock Inc. now owns 7,626,196 shares of the company’s stock worth $30,427,000 after purchasing an additional 146,967 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Mersana Therapeutics by 257.4% during the first quarter. Federated Hermes Inc. now owns 723,933 shares of the company’s stock worth $2,888,000 after purchasing an additional 521,350 shares during the period. 92.40% of the stock is owned by institutional investors and hedge funds.

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.