Acuta Capital Partners LLC Sells 463,000 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Acuta Capital Partners LLC decreased its position in Mersana Therapeutics, Inc. (NASDAQ:MRSN - Free Report) by 27.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,200,000 shares of the company's stock after selling 463,000 shares during the quarter. Mersana Therapeutics comprises approximately 1.8% of Acuta Capital Partners LLC's holdings, making the stock its 19th largest position. Acuta Capital Partners LLC owned approximately 0.98% of Mersana Therapeutics worth $2,268,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Mersana Therapeutics by 976.7% during the 1st 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. Vanguard Group Inc. grew its position in Mersana Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company's stock worth $28,109,000 after buying an additional 36,782 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Mersana Therapeutics by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 79,932 shares of the company's stock valued at $359,000 after buying an additional 4,962 shares in the last quarter. Walleye Trading LLC acquired a new stake in shares of Mersana Therapeutics during the 1st quarter valued at $141,000. Finally, SG Americas Securities LLC lifted its position in shares of Mersana Therapeutics by 313.9% during the 2nd quarter. SG Americas Securities LLC now owns 138,722 shares of the company's stock valued at $279,000 after acquiring an additional 105,209 shares during the last quarter. Institutional investors own 93.92% of the company's stock.

Mersana Therapeutics Stock Up 0.9 %

Mersana Therapeutics stock traded up $0.02 during trading hours on Thursday, hitting $2.19. The company had a trading volume of 615,413 shares, compared to its average volume of 1,604,276. Mersana Therapeutics, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $6.28. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market capitalization of $270.53 million, a P/E ratio of -3.59 and a beta of 1.50. The firm's fifty day moving average is $2.07 and its 200-day moving average is $1.99.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) 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 analyst estimates of $7.53 million. During the same period last year, the company earned ($0.35) earnings per share. Mersana Therapeutics's quarterly revenue was up 63.6% compared to the same quarter last year. On average, research analysts forecast that Mersana Therapeutics, Inc. will post -0.61 earnings per share for the current year.

Insider Activity

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of Mersana Therapeutics stock in a transaction 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 owns 116,327 shares of the company's stock, valued at approximately $204,735.52. The trade was a 30.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 70,849 shares of company stock worth $129,184 in the last three months. 11.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MRSN has been the topic of a number of recent analyst reports. Citigroup started coverage on Mersana Therapeutics in a research report on Friday, November 15th. They set a "buy" rating and a $5.00 target price on the stock. Robert W. Baird cut their price objective on Mersana Therapeutics from $4.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.00.

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.