Dynamic Technology Lab Private Ltd Takes $34,000 Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Dynamic Technology Lab Private Ltd acquired a new stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN) in the 3rd quarter, Holdings Channel reports. The firm acquired 18,095 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds have also recently bought and sold shares of the company. HealthInvest Partners AB increased its position in Mersana Therapeutics by 191.3% during the third quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock worth $1,018,000 after buying an additional 353,721 shares in the last quarter. Intech Investment Management LLC acquired a new position in Mersana Therapeutics in the third quarter valued at $52,000. GSA Capital Partners LLP boosted its holdings in Mersana Therapeutics by 368.9% in the third quarter. GSA Capital Partners LLP now owns 271,774 shares of the company’s stock valued at $514,000 after acquiring an additional 213,814 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Mersana Therapeutics by 8.1% in the third quarter. Los Angeles Capital Management LLC now owns 189,660 shares of the company’s stock valued at $358,000 after acquiring an additional 14,240 shares during the last quarter. Finally, US Bancorp DE acquired a new position in Mersana Therapeutics in the third quarter valued at $31,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MRSN. Robert W. Baird reduced their price objective on 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 started coverage on Mersana Therapeutics in a research note on Friday, November 15th. They issued a “buy” rating and a $5.00 price target on the stock. Two 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Mersana Therapeutics Stock Up 3.0 %

Shares of Mersana Therapeutics stock opened at $2.37 on Wednesday. The firm has a market cap of $292.77 million, a P/E ratio of -3.89 and a beta of 1.40. The business has a 50-day moving average price of $2.08 and a 200 day moving average price of $1.98. Mersana Therapeutics, Inc. has a fifty-two week low of $1.22 and a fifty-two week 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.

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

Insider Transactions at Mersana Therapeutics

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’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 transaction of $88,744.48. Following the completion of the transaction, the chief executive officer now directly owns 116,327 shares in the company, valued at approximately $204,735.52. The trade was a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 70,849 shares of company stock worth $129,184. Company insiders own 11.80% of the company’s stock.

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.