Federated Hermes Inc. Acquires 185,331 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Federated Hermes Inc. boosted its holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 105,301.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,507 shares of the company’s stock after purchasing an additional 185,331 shares during the quarter. Federated Hermes Inc. owned approximately 0.15% of Mersana Therapeutics worth $373,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ClariVest Asset Management LLC purchased a new stake in shares of Mersana Therapeutics during the 1st quarter worth approximately $2,114,000. Acadian Asset Management LLC raised its stake in Mersana Therapeutics by 166.7% during the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock valued at $2,099,000 after purchasing an additional 293,115 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Mersana Therapeutics during the first quarter valued at $226,000. Vanguard Group Inc. increased its holdings in shares of Mersana Therapeutics by 0.6% in the 1st 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. Finally, Victory Capital Management Inc. bought a new stake in shares of Mersana Therapeutics in the 4th quarter worth about $30,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRSN has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Citigroup lowered their price target on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Mersana Therapeutics Stock Down 10.0 %

Mersana Therapeutics stock opened at $1.95 on Tuesday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.02. The firm has a market cap of $237.99 million, a P/E ratio of -1.71 and a beta of 1.47. The business has a fifty day moving average of $1.72 and a two-hundred day moving average of $2.63. Mersana Therapeutics, Inc. has a twelve month low of $1.07 and a twelve month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results 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%. Mersana Therapeutics’s revenue for the quarter was down 78.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. On average, analysts forecast that Mersana Therapeutics, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the firm’s stock in a transaction that occurred 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 directly owns 116,327 shares in the company, valued at $204,735.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.80% of the stock is currently owned by company insiders.

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.