Atom Investors LP Sells 340,774 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Atom Investors LP lessened its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 93.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,661 shares of the company’s stock after selling 340,774 shares during the period. Atom Investors LP’s holdings in Mersana Therapeutics were worth $47,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MRSN. Vanguard Group Inc. raised its position in Mersana Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after buying an additional 36,782 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Mersana Therapeutics by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock worth $2,911,000 after acquiring an additional 20,400 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Mersana Therapeutics by 11,695.2% in the third quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock valued at $2,463,000 after purchasing an additional 1,292,200 shares during the last quarter. HealthInvest Partners AB lifted its position in shares of Mersana Therapeutics by 191.3% in the third quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock worth $1,018,000 after purchasing an additional 353,721 shares in the last quarter. Finally, ClariVest Asset Management LLC boosted its holdings in Mersana Therapeutics by 6.1% during the second quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock worth $1,006,000 after purchasing an additional 28,650 shares during the last quarter. 93.92% of the stock is currently owned by institutional investors.

Mersana Therapeutics Stock Up 2.2 %

Mersana Therapeutics stock opened at $2.32 on Friday. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The company’s 50-day moving average is $2.11 and its 200-day moving average is $1.98. The firm has a market capitalization of $286.59 million, a PE ratio of -3.80 and a beta of 1.40. Mersana Therapeutics, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $6.28.

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

Insider Activity

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total value of $88,744.48. Following the transaction, the chief executive officer now owns 116,327 shares of the company’s stock, valued at approximately $204,735.52. This represents a 30.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 70,849 shares of company stock valued at $129,184 over the last ninety days. 11.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Citigroup began coverage on Mersana Therapeutics in a report on Friday, November 15th. They set a “buy” rating and a $5.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mersana Therapeutics has a consensus rating of “Moderate Buy” and an average target price 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.