Geode Capital Management LLC Reduces Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Geode Capital Management LLC trimmed its holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 3.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,413,215 shares of the company’s stock after selling 80,208 shares during the quarter. Geode Capital Management LLC’s holdings in Mersana Therapeutics were worth $4,562,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Verition Fund Management LLC raised its stake in 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 worth $2,463,000 after buying an additional 1,292,200 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Mersana Therapeutics by 104.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock valued at $1,877,000 after purchasing an additional 507,453 shares during the period. HealthInvest Partners AB lifted its position in shares of Mersana Therapeutics by 191.3% during the 3rd quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock valued at $1,018,000 after buying an additional 353,721 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Mersana Therapeutics in the 2nd quarter worth about $508,000. Finally, XTX Topco Ltd boosted its position in Mersana Therapeutics by 186.0% during the third quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock worth $656,000 after acquiring an additional 225,823 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup started coverage on Mersana Therapeutics in a research report on Friday, November 15th. They issued a “buy” rating and a $5.00 target price on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Mersana Therapeutics Stock Down 0.7 %

Mersana Therapeutics stock opened at $1.39 on Monday. 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 market capitalization of $171.71 million, a P/E ratio of -2.28 and a beta of 1.43. The stock has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $1.91. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The company had revenue of $12.60 million for the quarter, compared to analysts’ expectations of $7.53 million. During the same period in the previous year, the company posted ($0.35) EPS. Mersana Therapeutics’s revenue was up 63.6% compared to the same quarter last year. Equities research analysts expect that Mersana Therapeutics, Inc. will post -0.61 earnings per share for the current year.

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.