Mersana Therapeutics, Inc. (NASDAQ:MRSN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 37.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,233 shares of the company’s stock after selling 51,489 shares during the quarter. SG Americas Securities LLC’s holdings in Mersana Therapeutics were worth $165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRSN. Algert Global LLC acquired a new stake in shares of Mersana Therapeutics during the second quarter worth about $90,000. Susquehanna Fundamental Investments LLC grew its stake in Mersana Therapeutics by 31.9% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 308,691 shares of the company’s stock worth $620,000 after buying an additional 74,575 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Mersana Therapeutics during the second quarter worth approximately $508,000. Marshall Wace LLP lifted its stake in Mersana Therapeutics by 358.0% in the second quarter. Marshall Wace LLP now owns 176,029 shares of the company’s stock valued at $354,000 after buying an additional 137,596 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Mersana Therapeutics by 262.1% in the second quarter. XTX Topco Ltd now owns 121,432 shares of the company’s stock valued at $244,000 after acquiring an additional 87,893 shares during the period. 93.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MRSN shares. Citigroup cut their target price on shares of Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Robert W. Baird dropped their price objective on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Finally, Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Mersana Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Mersana Therapeutics Stock Down 2.4 %

Shares of NASDAQ:MRSN opened at $2.01 on Friday. Mersana Therapeutics, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $6.28. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.02. The firm’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $2.21. The company has a market cap of $245.95 million, a price-to-earnings ratio of -1.76 and a beta of 1.49.

Mersana Therapeutics (NASDAQ:MRSN) last announced 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). 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%. Mersana Therapeutics’s revenue for the quarter was down 78.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.47) EPS. As a group, equities research analysts predict that Mersana Therapeutics, Inc. will post -0.71 earnings per share for the current year.

Insider Buying and Selling

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the firm’s stock in a transaction 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 owns 116,327 shares of the company’s stock, valued at approximately $204,735.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 68,965 shares of company stock valued at $125,605 over the last quarter. Company insiders own 11.80% of the company’s stock.

Mersana Therapeutics Company 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.