Mersana Therapeutics (NASDAQ:MRSN) Shares Down 8.2%

Mersana Therapeutics Inc (NASDAQ:MRSN) shares fell 8.2% during trading on Friday . The stock traded as low as $2.28 and last traded at $2.34, 1,491,548 shares traded hands during mid-day trading. An increase of 557% from the average session volume of 226,863 shares. The stock had previously closed at $2.55.

Several brokerages have commented on MRSN. ValuEngine upgraded shares of Mersana Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cowen restated a “buy” rating on shares of Mersana Therapeutics in a report on Sunday, June 2nd. Finally, Zacks Investment Research cut shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $11.63.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.50 and a current ratio of 5.50. The company’s 50 day moving average price is $3.49 and its 200 day moving average price is $4.61. The company has a market cap of $129.57 million, a price-to-earnings ratio of -0.84 and a beta of 1.37.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.38) by $0.02. The business had revenue of $0.20 million for the quarter, compared to the consensus estimate of $1.08 million. Mersana Therapeutics had a negative net margin of 77.78% and a negative return on equity of 51.13%. As a group, analysts predict that Mersana Therapeutics Inc will post -0.61 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MRSN. NEA Management Company LLC lifted its position in Mersana Therapeutics by 46.0% during the 1st quarter. NEA Management Company LLC now owns 11,894,267 shares of the company’s stock worth $62,564,000 after buying an additional 3,750,000 shares in the last quarter. Boxer Capital LLC acquired a new position in Mersana Therapeutics during the 2nd quarter worth about $8,440,000. BlackRock Inc. lifted its position in Mersana Therapeutics by 166.2% during the 2nd quarter. BlackRock Inc. now owns 2,390,463 shares of the company’s stock worth $9,681,000 after buying an additional 1,492,618 shares in the last quarter. Vanguard Group Inc. lifted its position in Mersana Therapeutics by 26.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,903,502 shares of the company’s stock worth $7,709,000 after buying an additional 403,011 shares in the last quarter. Finally, Sphera Funds Management LTD. acquired a new position in Mersana Therapeutics during the 1st quarter worth about $1,052,000. Institutional investors and hedge funds own 82.10% of the company’s stock.

Mersana Therapeutics Company Profile (NASDAQ:MRSN)

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.

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