Skandinaviska Enskilda Banken AB publ Acquires Shares of 30,304 Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Skandinaviska Enskilda Banken AB publ bought a new position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) during the 2nd quarter, Holdings Channel reports. The firm bought 30,304 shares of the company’s stock, valued at approximately $412,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. boosted its holdings in shares of Mersana Therapeutics by 1,641.2% in the 1st quarter. Citigroup Inc. now owns 230,101 shares of the company’s stock worth $3,723,000 after acquiring an additional 216,886 shares in the last quarter. UBS Group AG boosted its holdings in shares of Mersana Therapeutics by 1,270.3% in the 1st quarter. UBS Group AG now owns 87,081 shares of the company’s stock worth $1,409,000 after acquiring an additional 80,726 shares in the last quarter. Rock Springs Capital Management LP boosted its holdings in shares of Mersana Therapeutics by 34.5% in the 1st quarter. Rock Springs Capital Management LP now owns 2,775,127 shares of the company’s stock worth $44,902,000 after acquiring an additional 711,460 shares in the last quarter. HRT Financial LP acquired a new position in shares of Mersana Therapeutics in the 1st quarter worth approximately $516,000. Finally, Millennium Management LLC boosted its holdings in shares of Mersana Therapeutics by 299.0% in the 1st quarter. Millennium Management LLC now owns 287,671 shares of the company’s stock worth $4,655,000 after acquiring an additional 215,571 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of Mersana Therapeutics stock opened at $9.61 on Thursday. The firm has a fifty day moving average of $11.76 and a two-hundred day moving average of $14.08. The stock has a market capitalization of $689.63 million, a price-to-earnings ratio of -5.22 and a beta of 2.46. Mersana Therapeutics, Inc. has a 52 week low of $8.46 and a 52 week high of $29.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.77 and a current ratio of 5.77.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Friday, August 6th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.09). The business had revenue of $0.01 million for the quarter. Mersana Therapeutics had a negative net margin of 295,206.97% and a negative return on equity of 58.04%. As a group, research analysts forecast that Mersana Therapeutics, Inc. will post -2.25 EPS for the current fiscal year.

In related news, insider Timothy B. Lowinger sold 7,775 shares of the company’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $12.47, for a total value of $96,954.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy B. Lowinger sold 1,886 shares of the company’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $13.60, for a total transaction of $25,649.60. Following the completion of the sale, the insider now owns 33,321 shares of the company’s stock, valued at approximately $453,165.60. The disclosure for this sale can be found here. Insiders have sold a total of 60,101 shares of company stock valued at $737,912 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

Several brokerages have recently commented on MRSN. Robert W. Baird reissued a “buy” rating and issued a $30.00 target price on shares of Mersana Therapeutics in a report on Thursday, August 12th. HC Wainwright initiated coverage on Mersana Therapeutics in a report on Monday, August 30th. They set a “buy” rating and a $28.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating on shares of Mersana Therapeutics in a report on Sunday, September 12th. Finally, Zacks Investment Research raised Mersana Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $28.17.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing antibody drug conjugates that offer clinical benefit for cancer patients with significant unmet need. Its product candidates are Upifitamab Rilsodotin (UpRi), XMT-1536, and XMT-1592. The company was founded by Mikhail Papisov in 2001 and is headquartered in Cambridge, MA.

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Institutional Ownership by Quarter for Mersana Therapeutics (NASDAQ:MRSN)

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