Zacks Investment Research Downgrades Mersana Therapeutics (MRSN) to Sell

Mersana Therapeutics (NASDAQ:MRSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “

Mersana Therapeutics (NASDAQ:MRSN) traded down $0.18 on Wednesday, reaching $16.93. 93,900 shares of the company’s stock were exchanged, compared to its average volume of 76,333. The stock has a market cap of $377.48 and a P/E ratio of -16.44. Mersana Therapeutics has a 1 year low of $12.71 and a 1 year high of $21.01.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.13. The firm had revenue of $6.27 million for the quarter, compared to analysts’ expectations of $3.93 million. analysts anticipate that Mersana Therapeutics will post -2.9 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System purchased a new position in shares of Mersana Therapeutics in the 3rd quarter worth about $142,000. Citadel Advisors LLC purchased a new position in shares of Mersana Therapeutics in the 2nd quarter worth about $179,000. Bank of New York Mellon Corp purchased a new position in shares of Mersana Therapeutics in the 3rd quarter worth about $231,000. Goldman Sachs Group Inc. purchased a new position in shares of Mersana Therapeutics in the 2nd quarter worth about $699,000. Finally, Laurion Capital Management LP purchased a new position in shares of Mersana Therapeutics in the 2nd quarter worth about $699,000. 76.69% of the stock is currently owned by hedge funds and other institutional investors.

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Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc is a United States-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). The Company focuses on advancing a pipeline of targeted oncology therapeutics leveraging its Fleximer immunoconjugate technology. The Fleximer platform allows it to design ADCs with specific properties and manage the drug’s chances of attacking cancers.

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