Affinity Asset Advisors LLC Sells 233,000 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Affinity Asset Advisors LLC lessened its holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 23.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 767,000 shares of the company’s stock after selling 233,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Mersana Therapeutics were worth $1,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mersana Therapeutics by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 79,932 shares of the company’s stock worth $359,000 after buying an additional 4,962 shares during the period. Russell Investments Group Ltd. lifted its stake in Mersana Therapeutics by 976.7% in the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after acquiring an additional 8,575 shares during the period. Victory Capital Management Inc. bought a new position in Mersana Therapeutics during the 4th quarter worth about $30,000. Renaissance Technologies LLC increased its position in Mersana Therapeutics by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after purchasing an additional 20,400 shares during the period. Finally, ClariVest Asset Management LLC increased its position in Mersana Therapeutics by 6.1% during the 2nd quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock valued at $1,006,000 after purchasing an additional 28,650 shares during the period. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Price Performance

Shares of MRSN opened at $1.89 on Wednesday. The company has a 50 day moving average of $1.71 and a two-hundred day moving average of $2.60. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.72 and a current ratio of 2.72. Mersana Therapeutics, Inc. has a twelve month low of $1.07 and a twelve month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Mersana Therapeutics had a negative return on equity of 333.91% and a negative net margin of 349.98%. The business had revenue of $2.30 million during the quarter, compared to analyst estimates of $8.72 million. During the same period in the previous year, the business earned ($0.47) EPS. The firm’s revenue for the quarter was down 78.3% compared to the same quarter last year. Equities analysts predict that Mersana Therapeutics, Inc. will post -0.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $1.76, for a total transaction of $88,744.48. Following the transaction, the chief executive officer now owns 116,327 shares in the company, valued at $204,735.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MRSN shares. Robert W. Baird lowered their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Citigroup dropped their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Finally, Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.