Timothy B. Lowinger Sells 7,775 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) Stock

Mersana Therapeutics, Inc. (NASDAQ:MRSN) insider Timothy B. Lowinger sold 7,775 shares of the stock in a transaction that occurred on Friday, July 16th. The stock was sold at an average price of $12.47, for a total value of $96,954.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of MRSN opened at $12.34 on Thursday. The company’s fifty day simple moving average is $13.85. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.03. Mersana Therapeutics, Inc. has a 12 month low of $11.81 and a 12 month high of $29.09. The stock has a market cap of $858.40 million, a P/E ratio of -7.81 and a beta of 2.45.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Monday, May 10th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.11). Mersana Therapeutics had a negative net margin of 12,779.23% and a negative return on equity of 44.42%. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.25 million. Equities analysts expect that Mersana Therapeutics, Inc. will post -1.99 earnings per share for the current fiscal year.

MRSN has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $32.00 target price on shares of Mersana Therapeutics in a research report on Tuesday, June 29th. Credit Suisse Group started coverage on Mersana Therapeutics in a research report on Tuesday, March 30th. They set a “neutral” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.60.

Several hedge funds have recently added to or reduced their stakes in MRSN. Price T Rowe Associates Inc. MD boosted its stake in shares of Mersana Therapeutics by 80.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,304,346 shares of the company’s stock worth $87,929,000 after buying an additional 1,475,727 shares during the last quarter. Orbimed Advisors LLC lifted its position in Mersana Therapeutics by 144.7% during the first quarter. Orbimed Advisors LLC now owns 1,892,500 shares of the company’s stock valued at $30,621,000 after purchasing an additional 1,119,152 shares in the last quarter. Sarissa Capital Management LP lifted its position in Mersana Therapeutics by 36.9% during the first quarter. Sarissa Capital Management LP now owns 4,005,600 shares of the company’s stock valued at $64,810,000 after purchasing an additional 1,078,600 shares in the last quarter. Bellevue Group AG lifted its position in Mersana Therapeutics by 48.0% during the first quarter. Bellevue Group AG now owns 2,850,010 shares of the company’s stock valued at $46,113,000 after purchasing an additional 924,000 shares in the last quarter. Finally, Rock Springs Capital Management LP lifted its position in Mersana Therapeutics by 34.5% during the first quarter. Rock Springs Capital Management LP now owns 2,775,127 shares of the company’s stock valued at $44,902,000 after purchasing an additional 711,460 shares in the last quarter.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the development of antibody drug conjugates (ADC) for cancer patients with unmet need. The company develops XMT-1536, a Dolaflexin ADC targeting NaPi2b that is in Phase I clinical trial for the treatment of patients with ovarian cancer and non-small cell lung cancer (NSCLC) adenocarcinoma; and XMT-1592, a Dolasynthen ADC targeting NaPi2b-expressing tumors, which is in phase I clinical trial for the treatment of ovarian cancer and NSCLC adenocarcinoma.

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