Exome Asset Management LLC Takes Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Exome Asset Management LLC acquired a new stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,178,570 shares of the company’s stock, valued at approximately $2,227,000. Mersana Therapeutics comprises about 1.5% of Exome Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Exome Asset Management LLC owned about 0.95% of Mersana Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRSN. Verition Fund Management LLC boosted its position in shares of Mersana Therapeutics by 11,695.2% during the third quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock worth $2,463,000 after buying an additional 1,292,200 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Mersana Therapeutics by 104.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock worth $1,877,000 after purchasing an additional 507,453 shares in the last quarter. HealthInvest Partners AB increased its holdings in shares of Mersana Therapeutics by 191.3% during the third quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock valued at $1,018,000 after purchasing an additional 353,721 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Mersana Therapeutics during the second quarter valued at about $508,000. Finally, XTX Topco Ltd grew its position in Mersana Therapeutics by 186.0% in the 3rd quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock valued at $656,000 after buying an additional 225,823 shares in the last quarter. Institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

Shares of Mersana Therapeutics stock opened at $2.15 on Friday. Mersana Therapeutics, Inc. has a 12 month low of $1.22 and a 12 month high of $6.28. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. The stock has a market cap of $265.59 million, a PE ratio of -3.52 and a beta of 1.40. The business has a fifty day simple moving average of $2.17 and a 200-day simple moving average of $1.98.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The company had revenue of $12.60 million for the quarter, compared to the consensus estimate of $7.53 million. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The firm’s quarterly revenue was up 63.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, sell-side analysts anticipate that Mersana Therapeutics, Inc. will post -0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup started coverage on shares of Mersana Therapeutics in a research note on Friday, November 15th. They issued a “buy” rating and a $5.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mersana Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Mersana Therapeutics 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.