Mersana Therapeutics (NASDAQ:MRSN) Reaches New 12-Month Low at $8.35

Mersana Therapeutics, Inc. (NASDAQ:MRSN)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $8.35 and last traded at $8.37, with a volume of 20524 shares trading hands. The stock had previously closed at $8.66.

MRSN has been the topic of several research analyst reports. HC Wainwright initiated coverage on shares of Mersana Therapeutics in a research note on Monday, August 30th. They issued a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research upgraded shares of Mersana Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird restated a “buy” rating and issued a $30.00 price objective on shares of Mersana Therapeutics in a research note on Thursday, August 12th. Finally, BTIG Research restated a “buy” rating on shares of Mersana Therapeutics in a research note on Sunday, September 12th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Mersana Therapeutics has a consensus rating of “Buy” and an average target price of $28.17.

The stock has a fifty day simple moving average of $11.03 and a 200-day simple moving average of $13.22. 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 quarterly earnings data on Friday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.09). Mersana Therapeutics had a negative net margin of 295,206.97% and a negative return on equity of 58.04%. The company had revenue of $0.01 million for the quarter. On average, equities research analysts anticipate that Mersana Therapeutics, Inc. will post -2.24 EPS for the current year.

In other Mersana Therapeutics news, insider Timothy B. Lowinger sold 7,775 shares of the business’s stock in a transaction dated Friday, July 16th. The stock was sold at an average price of $12.47, for a total transaction of $96,954.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy B. Lowinger sold 8,496 shares of the business’s stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $12.02, for a total value of $102,121.92. The disclosure for this sale can be found here. Insiders sold 58,215 shares of company stock valued at $712,262 over the last ninety days. 5.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its position in Mersana Therapeutics by 19.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,400 shares of the company’s stock worth $73,000 after acquiring an additional 864 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Mersana Therapeutics by 6.9% during the 2nd quarter. Legal & General Group Plc now owns 14,006 shares of the company’s stock worth $190,000 after purchasing an additional 909 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Mersana Therapeutics by 0.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 283,450 shares of the company’s stock worth $3,849,000 after purchasing an additional 1,467 shares in the last quarter. Swiss National Bank raised its stake in shares of Mersana Therapeutics by 1.3% during the 1st quarter. Swiss National Bank now owns 125,296 shares of the company’s stock worth $2,027,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Mersana Therapeutics by 53.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 5,878 shares of the company’s stock worth $95,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

About Mersana Therapeutics (NASDAQ:MRSN)

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.

Further Reading: What Are Treasury Bonds?

Receive News & Ratings for Mersana Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mersana Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.