Mersana Therapeutics (NASDAQ:MRSN) Trading 2.7% Higher

Mersana Therapeutics, Inc. (NASDAQ:MRSN)’s share price was up 2.7% during mid-day trading on Monday . The stock traded as high as $1.97 and last traded at $1.88. Approximately 1,278,267 shares changed 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.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upgraded shares of Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Mersana Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $6.29.

Mersana Therapeutics Trading Up 2.7 %

The firm has a market capitalization of $230.04 million, a price-to-earnings ratio of -1.65 and a beta of 1.54. The business’s 50-day simple moving average is $2.42 and its two-hundred day simple moving average is $3.29. 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 announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The business had revenue of $9.25 million during the quarter, compared to analysts’ expectations of $8.50 million. During the same period last year, the business earned ($0.52) earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. Equities analysts forecast that Mersana Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in shares of Mersana Therapeutics by 976.7% in the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after purchasing an additional 8,575 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Mersana Therapeutics in the fourth quarter valued at approximately $30,000. Nisa Investment Advisors LLC boosted its stake in shares of Mersana Therapeutics by 479.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock valued at $41,000 after purchasing an additional 14,600 shares during the period. Walleye Trading LLC purchased a new position in shares of Mersana Therapeutics in the first quarter valued at approximately $141,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Mersana Therapeutics by 28.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 47,472 shares of the company’s stock valued at $110,000 after purchasing an additional 10,410 shares during the period. Hedge funds and other institutional investors own 93.92% of the company’s stock.

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.