Bank of New York Mellon Corp Grows Stock Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Bank of New York Mellon Corp increased its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 19.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 452,829 shares of the company’s stock after purchasing an additional 74,092 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.37% of Mersana Therapeutics worth $910,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in MRSN. Victory Capital Management Inc. purchased a new stake in shares of Mersana Therapeutics during the fourth quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mersana Therapeutics during the 1st quarter valued at about $226,000. BNP Paribas Financial Markets raised its holdings in Mersana Therapeutics by 90.0% in the 1st quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company’s stock valued at $362,000 after acquiring an additional 38,239 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in Mersana Therapeutics in the 1st quarter worth approximately $2,114,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Mersana Therapeutics during the 1st quarter worth approximately $1,049,000. 93.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the transaction, the chief executive officer now owns 116,327 shares of the company’s stock, valued at approximately $204,735.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.80% of the company’s stock.

Wall Street Analysts Forecast Growth

MRSN has been the subject of several recent research reports. Citigroup cut their price target on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Robert W. Baird lowered their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research 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’s stock. According to data from MarketBeat.com, Mersana Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $2.16 on Friday. Mersana Therapeutics, Inc. has a 52 week low of $1.07 and a 52 week high of $6.28. The stock’s fifty day moving average is $1.72 and its two-hundred day moving average is $2.67. The company has a market capitalization of $264.30 million, a P/E ratio of -1.89 and a beta of 1.47. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.02.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $8.72 million. Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The firm’s quarterly revenue was down 78.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.47) earnings per share. Equities analysts expect that Mersana Therapeutics, Inc. will post -0.72 EPS for the current year.

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.