Mersana Therapeutics, Inc. (NASDAQ:MRSN) Shares Sold by Atom Investors LP

Atom Investors LP reduced its stake in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN - Free Report) by 93.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,661 shares of the company's stock after selling 340,774 shares during the quarter. Atom Investors LP's holdings in Mersana Therapeutics were worth $47,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Verition Fund Management LLC lifted its stake in Mersana Therapeutics by 11,695.2% in the third quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company's stock worth $2,463,000 after acquiring an additional 1,292,200 shares during the period. HealthInvest Partners AB lifted its stake in Mersana Therapeutics by 191.3% in the third quarter. HealthInvest Partners AB now owns 538,621 shares of the company's stock worth $1,018,000 after acquiring an additional 353,721 shares during the period. Squarepoint Ops LLC purchased a new stake in Mersana Therapeutics in the second quarter worth about $508,000. GSA Capital Partners LLP lifted its stake in Mersana Therapeutics by 368.9% in the third quarter. GSA Capital Partners LLP now owns 271,774 shares of the company's stock worth $514,000 after acquiring an additional 213,814 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Mersana Therapeutics by 105,301.7% during the second quarter. Federated Hermes Inc. now owns 185,507 shares of the company's stock valued at $373,000 after buying an additional 185,331 shares during the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.

Mersana Therapeutics Stock Up 6.0 %

Shares of MRSN traded up $0.14 during mid-day trading on Friday, hitting $2.46. 373,931 shares of the company traded hands, compared to its average volume of 1,581,428. Mersana Therapeutics, Inc. has a 1-year low of $1.22 and a 1-year high of $6.28. The business has a 50 day moving average of $2.11 and a 200 day moving average of $1.98. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. The company has a market capitalization of $303.88 million, a PE ratio of -3.57 and a beta of 1.40.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last issued 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 net margin of 214.20% and a negative return on equity of 401.37%. The company had revenue of $12.60 million for the quarter, compared to the consensus estimate of $7.53 million. During the same quarter in the prior year, the company earned ($0.35) EPS. Mersana Therapeutics's quarterly revenue was up 63.6% on a year-over-year basis. Equities research analysts anticipate that Mersana Therapeutics, Inc. will post -0.61 EPS for the current year.

Insider Buying and Selling

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the business's 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 transaction, the chief executive officer now directly owns 116,327 shares in the company, valued at $204,735.52. The trade was a 30.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 70,849 shares of company stock worth $129,184. 11.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on MRSN shares. Robert W. Baird decreased 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 report on Wednesday, August 14th. Citigroup started coverage on shares of Mersana Therapeutics in a research report on Friday, November 15th. They set a "buy" rating and a $5.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $6.00.

Mersana Therapeutics Company 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.