Pallas Capital Advisors LLC Purchases New Shares in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Pallas Capital Advisors LLC acquired a new position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 94,531 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in shares of Mersana Therapeutics in the fourth quarter valued at approximately $131,000. Sphera Funds Management LTD. bought a new position in shares of Mersana Therapeutics in the fourth quarter worth $987,000. Nuveen Asset Management LLC lifted its position in Mersana Therapeutics by 53.6% during the fourth quarter. Nuveen Asset Management LLC now owns 232,223 shares of the company’s stock worth $332,000 after purchasing an additional 81,022 shares during the period. Millennium Management LLC grew its stake in Mersana Therapeutics by 206.4% during the fourth quarter. Millennium Management LLC now owns 795,973 shares of the company’s stock worth $1,138,000 after buying an additional 536,190 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Mersana Therapeutics by 12.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,111,998 shares of the company’s stock valued at $1,590,000 after buying an additional 118,952 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $0.37 on Friday. The firm’s fifty day moving average price is $0.36 and its two-hundred day moving average price is $0.76. The stock has a market cap of $45.76 million, a PE ratio of -0.60 and a beta of 0.83. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. Mersana Therapeutics, Inc. has a fifty-two week low of $0.26 and a fifty-two week high of $2.83.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The business had revenue of $2.75 million for the quarter, compared to analyst estimates of $6.05 million. On average, equities analysts expect that Mersana Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Mersana Therapeutics from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Guggenheim reaffirmed a “buy” rating and issued a $5.00 target price on shares of Mersana Therapeutics in a report on Friday, May 16th. Wedbush reissued an “outperform” rating and set a $3.00 price target on shares of Mersana Therapeutics in a report on Thursday, May 15th. Finally, William Blair restated an “outperform” rating on shares of Mersana Therapeutics in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.20.

About Mersana Therapeutics

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.