Point72 Asset Management L.P. decreased its stake in Mersana Therapeutics Inc (NASDAQ:MRSN) by 16.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,808 shares of the company’s stock after selling 28,192 shares during the period. Point72 Asset Management L.P. owned approximately 0.62% of Mersana Therapeutics worth $2,533,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. American International Group Inc. lifted its stake in shares of Mersana Therapeutics by 110.1% in the first quarter. American International Group Inc. now owns 7,151 shares of the company’s stock worth $113,000 after acquiring an additional 3,747 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Mersana Therapeutics by 20.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,500 shares of the company’s stock worth $438,000 after acquiring an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Mersana Therapeutics by 27.4% in the second quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock worth $564,000 after acquiring an additional 6,804 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Mersana Therapeutics by 505.6% in the first quarter. The Manufacturers Life Insurance Company now owns 9,496 shares of the company’s stock worth $149,000 after acquiring an additional 7,928 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Mersana Therapeutics by 266.7% in the first quarter. New York State Common Retirement Fund now owns 12,100 shares of the company’s stock worth $191,000 after acquiring an additional 8,800 shares in the last quarter. 82.61% of the stock is owned by institutional investors.
NASDAQ MRSN traded up $0.12 on Friday, hitting $8.36. 85,847 shares of the stock traded hands, compared to its average volume of 145,223. Mersana Therapeutics Inc has a twelve month low of $8.16 and a twelve month high of $23.96. The stock has a market capitalization of $231.53 million, a P/E ratio of -2.60 and a beta of -1.42.
MRSN has been the topic of several recent analyst reports. HC Wainwright set a $16.00 price target on Mersana Therapeutics and gave the stock a “buy” rating in a research note on Friday, July 20th. Zacks Investment Research cut Mersana Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Wedbush boosted their price target on Mersana Therapeutics from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. Robert W. Baird set a $20.00 price target on Mersana Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Finally, Leerink Swann cut Mersana Therapeutics from an “outperform” rating to a “market perform” rating and set a $61.00 price target on the stock. in a research note on Thursday, July 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Mersana Therapeutics currently has an average rating of “Buy” and an average target price of $26.83.
In other news, insider Timothy B. Lowinger sold 3,500 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $13.15, for a total transaction of $46,025.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 10,500 shares of company stock worth $125,440 over the last quarter. Insiders own 39.70% of the company’s stock.
Mersana Therapeutics Company Profile
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.
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