Insider Buying: Mersana Therapeutics, Inc. (NASDAQ:MRSN) Director Purchases 15,599 Shares of Stock
Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Rating) Director Andrew A. F. Hack bought 15,599 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were purchased at an average price of $3.35 per share, with a total value of $52,256.65. Following the acquisition, the director now directly owns 8,302,999 shares in the company, valued at approximately $27,815,046.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of MRSN traded down $0.13 during trading on Monday, reaching $3.36. The company’s stock had a trading volume of 1,038,216 shares, compared to its average volume of 1,728,640. The company has a fifty day moving average of $3.90 and a two-hundred day moving average of $5.15. Mersana Therapeutics, Inc. has a twelve month low of $2.68 and a twelve month high of $15.34. The company has a market cap of $325.89 million, a price-to-earnings ratio of -1.35 and a beta of 2.37. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.18.
Mersana Therapeutics (NASDAQ:MRSN – Get Rating) last announced its earnings results on Monday, May 9th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.28). Mersana Therapeutics had a negative net margin of 8,826.73% and a negative return on equity of 119.10%. During the same period last year, the business earned ($0.50) earnings per share. As a group, equities analysts forecast that Mersana Therapeutics, Inc. will post -2.13 EPS for the current fiscal year.
Several equities analysts recently commented on MRSN shares. Zacks Investment Research lowered Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. SVB Leerink reduced their price target on Mersana Therapeutics from $25.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. HC Wainwright reduced their price target on Mersana Therapeutics from $24.00 to $19.00 in a research report on Monday, May 9th. Finally, Robert W. Baird reduced their price target on Mersana Therapeutics from $23.00 to $18.00 in a research report on Tuesday, May 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.80.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Mersana Therapeutics by 2.0% during the 1st quarter. BlackRock Inc. now owns 7,626,196 shares of the company’s stock valued at $30,427,000 after acquiring an additional 146,967 shares in the last quarter. Sarissa Capital Management LP raised its position in shares of Mersana Therapeutics by 7.3% during the 3rd quarter. Sarissa Capital Management LP now owns 4,299,297 shares of the company’s stock valued at $40,542,000 after acquiring an additional 293,697 shares in the last quarter. State Street Corp raised its position in shares of Mersana Therapeutics by 3.2% during the 4th quarter. State Street Corp now owns 4,220,557 shares of the company’s stock valued at $26,252,000 after acquiring an additional 130,361 shares in the last quarter. Rock Springs Capital Management LP raised its position in shares of Mersana Therapeutics by 15.6% during the 1st quarter. Rock Springs Capital Management LP now owns 3,755,820 shares of the company’s stock valued at $14,986,000 after acquiring an additional 506,870 shares in the last quarter. Finally, Artal Group S.A. raised its position in shares of Mersana Therapeutics by 83.3% during the 1st quarter. Artal Group S.A. now owns 2,200,000 shares of the company’s stock valued at $8,778,000 after acquiring an additional 1,000,000 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.
About Mersana Therapeutics (Get Rating)
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet need. It develops XMT-1592, a Dolasynthen ADC targeting NaPi2b-expressing tumor cells, which is in phase I clinical trial for the treatment of ovarian cancer and NSCLC adenocarcinoma.
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