HealthInvest Partners AB Has $1.02 Million Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

HealthInvest Partners AB boosted its stake in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 191.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 538,621 shares of the company’s stock after acquiring an additional 353,721 shares during the quarter. HealthInvest Partners AB’s holdings in Mersana Therapeutics were worth $1,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Mersana Therapeutics by 976.7% in the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after purchasing an additional 8,575 shares in the last quarter. US Bancorp DE bought a new stake in shares of Mersana Therapeutics in the third quarter worth $31,000. Intech Investment Management LLC bought a new position in Mersana Therapeutics in the third quarter valued at $52,000. Walleye Trading LLC bought a new stake in Mersana Therapeutics during the 1st quarter worth about $141,000. Finally, Algert Global LLC bought a new stake in Mersana Therapeutics during the second quarter worth about $90,000. 93.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Robert W. Baird cut their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Finally, Citigroup started coverage on shares of Mersana Therapeutics in a report on Friday, November 15th. They issued a “buy” rating and a $5.00 target price on the stock. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Mersana Therapeutics Stock Performance

Mersana Therapeutics stock traded down $0.04 during trading hours on Thursday, hitting $2.18. The company had a trading volume of 10,549 shares, compared to its average volume of 1,600,207. The firm has a 50-day moving average of $2.07 and a 200 day moving average of $2.03. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. Mersana Therapeutics, Inc. has a one year low of $1.22 and a one year high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The business had revenue of $12.60 million during the quarter, compared to analysts’ expectations of $7.53 million. During the same period last year, the firm posted ($0.35) EPS. The firm’s revenue for the quarter was up 63.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Mersana Therapeutics, Inc. will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of Mersana Therapeutics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total value of $88,744.48. Following the completion of the sale, the chief executive officer now directly owns 116,327 shares in the company, valued at approximately $204,735.52. The trade was a 30.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 70,849 shares of company stock worth $129,184 in the last quarter. 11.80% of the stock is currently owned by corporate insiders.

Mersana Therapeutics Profile

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.