Mersana Therapeutics, Inc. (NASDAQ:MRSN) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 105,301.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 185,507 shares of the company’s stock after buying an additional 185,331 shares during the quarter. Federated Hermes Inc.’s holdings in Mersana Therapeutics were worth $373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. purchased a new stake in Mersana Therapeutics in the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. boosted its holdings in Mersana Therapeutics by 976.7% during the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after buying an additional 8,575 shares in the last quarter. Walleye Trading LLC acquired a new stake in Mersana Therapeutics during the first quarter valued at $141,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mersana Therapeutics in the first quarter valued at $226,000. Finally, SG Americas Securities LLC raised its position in shares of Mersana Therapeutics by 313.9% in the second quarter. SG Americas Securities LLC now owns 138,722 shares of the company’s stock worth $279,000 after acquiring an additional 105,209 shares during the period. 93.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Mersana Therapeutics

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of the 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 completion of the sale, the chief executive officer now directly owns 116,327 shares of the company’s stock, valued at $204,735.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.80% of the company’s stock.

Mersana Therapeutics Stock Performance

Shares of MRSN opened at $1.95 on Tuesday. Mersana Therapeutics, Inc. has a 1 year low of $1.07 and a 1 year high of $6.28. The stock has a market capitalization of $237.99 million, a PE ratio of -1.71 and a beta of 1.47. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.72 and a current ratio of 2.72. The stock has a 50-day simple moving average of $1.72 and a 200-day simple moving average of $2.63.

Mersana Therapeutics (NASDAQ:MRSN) last posted 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 business had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $8.72 million. Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The business’s quarterly revenue was down 78.3% compared to the same quarter last year. During the same period last year, the company earned ($0.47) EPS. On average, analysts predict that Mersana Therapeutics, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

MRSN has been the subject of a number of analyst reports. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Robert W. Baird decreased their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, Citigroup cut their price target on shares of Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

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.