Mersana Therapeutics (NASDAQ:MRSN) Stock Price Up 2.7%

Mersana Therapeutics, Inc. (NASDAQ:MRSN) shares were up 2.7% on Monday . The stock traded as high as $1.97 and last traded at $1.88. Approximately 1,278,267 shares traded hands during trading, a decline of 35% from the average daily volume of 1,981,425 shares. The stock had previously closed at $1.83.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised shares of Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Mersana Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $6.29.

Mersana Therapeutics Stock Up 2.6 %

The firm has a 50 day moving average of $2.36 and a two-hundred day moving average of $3.28. The firm has a market capitalization of $239.83 million, a price-to-earnings ratio of -1.72 and a beta of 1.54. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.72.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. Mersana Therapeutics had a negative return on equity of 260.65% and a negative net margin of 352.01%. The firm had revenue of $9.25 million during the quarter, compared to the consensus estimate of $8.50 million. During the same quarter in the previous year, the company posted ($0.52) earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Mersana Therapeutics, Inc. will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC raised its holdings in shares of Mersana Therapeutics by 1,205.0% in the third quarter. Walleye Capital LLC now owns 2,021,467 shares of the company’s stock worth $2,567,000 after buying an additional 1,866,568 shares during the period. ClariVest Asset Management LLC purchased a new position in Mersana Therapeutics in the 1st quarter worth $2,114,000. Readystate Asset Management LP purchased a new position in shares of Mersana Therapeutics during the 4th quarter valued at about $684,000. Acadian Asset Management LLC increased its stake in shares of Mersana Therapeutics by 166.7% in the 1st quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock valued at $2,099,000 after purchasing an additional 293,115 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Mersana Therapeutics in the 1st quarter valued at about $1,049,000. Institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Company Profile

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.