Avanza Fonder AB Takes $81,000 Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Avanza Fonder AB purchased a new position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 56,298 shares of the company’s stock, valued at approximately $81,000.

Several other hedge funds also recently made changes to their positions in MRSN. JPMorgan Chase & Co. raised its position in shares of Mersana Therapeutics by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock worth $4,444,000 after purchasing an additional 374,460 shares during the period. Exome Asset Management LLC bought a new position in Mersana Therapeutics during the 3rd quarter worth $2,227,000. Barclays PLC increased its position in Mersana Therapeutics by 32.7% in the third quarter. Barclays PLC now owns 494,516 shares of the company’s stock worth $934,000 after buying an additional 121,799 shares during the period. XTX Topco Ltd increased its position in Mersana Therapeutics by 186.0% in the third quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock worth $656,000 after buying an additional 225,823 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Mersana Therapeutics by 16.0% in the third quarter. Wellington Management Group LLP now owns 618,305 shares of the company’s stock valued at $1,169,000 after buying an additional 85,439 shares during the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Analysts Set New Price Targets

MRSN has been the topic of several analyst reports. Citigroup initiated 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. Wedbush reissued an “outperform” rating and issued a $4.00 price target (down previously from $7.00) on shares of Mersana Therapeutics in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Mersana Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $5.57.

Mersana Therapeutics Trading Up 0.7 %

Shares of Mersana Therapeutics stock opened at $0.62 on Tuesday. Mersana Therapeutics, Inc. has a 52-week low of $0.56 and a 52-week high of $6.28. The firm has a market capitalization of $76.42 million, a PE ratio of -1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The company’s fifty day moving average price is $1.77 and its two-hundred day moving average price is $1.82.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The firm had revenue of $12.60 million for the quarter, compared to analysts’ expectations 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 business posted ($0.35) earnings per share. On average, analysts expect that Mersana Therapeutics, Inc. will post -0.61 EPS for the current year.

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.