ClariVest Asset Management LLC Has $1.01 Million Holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

ClariVest Asset Management LLC boosted its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,498 shares of the company’s stock after acquiring an additional 28,650 shares during the period. ClariVest Asset Management LLC owned 0.41% of Mersana Therapeutics worth $1,006,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Mersana Therapeutics by 166.7% in the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after purchasing an additional 293,115 shares during the period. Foundations Investment Advisors LLC acquired a new position in Mersana Therapeutics during the 4th quarter valued at $237,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Mersana Therapeutics in the 1st quarter valued at $226,000. Vanguard Group Inc. grew 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 worth $28,109,000 after purchasing an additional 36,782 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Mersana Therapeutics during the 4th quarter worth about $30,000. 93.92% of the stock is currently owned by institutional investors.

Mersana Therapeutics Price Performance

Mersana Therapeutics stock opened at $1.77 on Thursday. The business has a 50 day simple moving average of $1.70 and a 200 day simple moving average of $2.83. Mersana Therapeutics, Inc. has a one year low of $1.07 and a one year high of $6.28. The company has a market capitalization of $217.14 million, a PE ratio of -1.55 and a beta of 1.48. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.72 and a quick ratio of 2.72.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $2.30 million during the quarter, compared to analyst estimates of $8.72 million. Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The firm’s revenue for the quarter was down 78.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.47) EPS. On average, sell-side analysts forecast that Mersana Therapeutics, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MRSN. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Citigroup decreased their price objective on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Robert W. Baird cut their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.