Affinity Asset Advisors LLC Sells 233,000 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Affinity Asset Advisors LLC cut its position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 23.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 767,000 shares of the company’s stock after selling 233,000 shares during the period. Affinity Asset Advisors LLC owned approximately 0.63% of Mersana Therapeutics worth $1,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in Mersana Therapeutics in the 4th quarter worth approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mersana Therapeutics in the first quarter worth $226,000. BNP Paribas Financial Markets lifted its holdings in shares of Mersana Therapeutics by 90.0% during the first quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company’s stock valued at $362,000 after purchasing an additional 38,239 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Mersana Therapeutics during the first quarter valued at $2,114,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Mersana Therapeutics in the 1st quarter worth about $1,049,000. Institutional investors own 93.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $1.89 on Wednesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.72 and a current ratio of 2.72. The business has a fifty day moving average price of $1.71 and a 200-day moving average price of $2.60. Mersana Therapeutics, Inc. has a one year low of $1.07 and a one year high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last released its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $2.30 million for the quarter, compared to the consensus estimate of $8.72 million. Mersana Therapeutics had a negative return on equity of 333.91% and a negative net margin of 349.98%. Mersana Therapeutics’s revenue was down 78.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.47) EPS. Analysts anticipate that Mersana Therapeutics, Inc. will post -0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of Mersana Therapeutics 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 sale, the chief executive officer now owns 116,327 shares in the company, valued at $204,735.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. 11.80% of the stock is currently owned by company insiders.

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.