Readystate Asset Management LP Buys Shares of 295,038 Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Readystate Asset Management LP bought a new stake in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 295,038 shares of the company’s stock, valued at approximately $684,000.

A number of other hedge funds have also made changes to their positions in the company. Metropolitan Life Insurance Co NY raised its holdings in shares of Mersana Therapeutics by 36.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,508 shares of the company’s stock valued at $38,000 after acquiring an additional 1,750 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Mersana Therapeutics by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 369,786 shares of the company’s stock valued at $1,520,000 after purchasing an additional 1,757 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Mersana Therapeutics by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 139,819 shares of the company’s stock valued at $646,000 after purchasing an additional 1,785 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Mersana Therapeutics by 24.8% in the second quarter. Principal Financial Group Inc. now owns 13,938 shares of the company’s stock valued at $64,000 after purchasing an additional 2,769 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Mersana Therapeutics by 2.2% in the fourth quarter. Panagora Asset Management Inc. now owns 190,963 shares of the company’s stock valued at $1,119,000 after purchasing an additional 4,186 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MRSN. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and upped their price target for the company from $2.00 to $7.00 in a research report on Thursday, February 29th. BTIG Research upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Thursday, February 29th. Guggenheim upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Thursday, February 29th. JPMorgan Chase & Co. upgraded Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, March 19th. Finally, Robert W. Baird increased their price objective on Mersana Therapeutics from $1.00 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.29.

Mersana Therapeutics Trading Down 5.1 %

Mersana Therapeutics stock traded down $0.18 during mid-day trading on Thursday, hitting $3.34. The company’s stock had a trading volume of 1,273,915 shares, compared to its average volume of 2,205,871. Mersana Therapeutics, Inc. has a 1 year low of $0.80 and a 1 year high of $9.62. The stock’s fifty day moving average is $4.48 and its two-hundred day moving average is $2.89. The firm has a market capitalization of $405.14 million, a PE ratio of -2.23 and a beta of 1.50. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.63.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, hitting the consensus estimate of ($0.16). Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The business had revenue of $10.70 million during the quarter, compared to analyst estimates of $22.59 million. During the same period last year, the business posted ($0.44) earnings per share. The company’s quarterly revenue was down 27.1% on a year-over-year basis. On average, analysts anticipate that Mersana Therapeutics, Inc. will post -0.6 EPS for the current year.

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.