Exchange Traded Concepts LLC Acquires 41,586 Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Exchange Traded Concepts LLC boosted its holdings in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 95.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,006 shares of the company’s stock after acquiring an additional 41,586 shares during the quarter. Exchange Traded Concepts LLC owned 0.07% of Mersana Therapeutics worth $161,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Mersana Therapeutics during the first quarter worth $226,000. BNP Paribas Financial Markets raised its position in Mersana Therapeutics by 90.0% during the 1st quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company’s stock worth $362,000 after purchasing an additional 38,239 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in Mersana Therapeutics during the 1st quarter worth about $2,114,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Mersana Therapeutics in the 1st quarter valued at about $1,049,000. Finally, Russell Investments Group Ltd. grew its position in shares of Mersana Therapeutics by 976.7% in the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after buying an additional 8,575 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the sale, the chief executive officer now owns 116,327 shares in the company, valued at $204,735.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 68,965 shares of company stock valued at $125,605. 11.80% of the stock is owned by company insiders.

Mersana Therapeutics Stock Performance

Shares of MRSN stock opened at $2.10 on Tuesday. The firm has a 50 day moving average of $1.76 and a 200-day moving average of $2.22. The company has a market cap of $256.96 million, a price-to-earnings ratio of -1.84 and a beta of 1.49. 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, Inc. has a 52 week low of $1.07 and a 52 week high of $6.28.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup cut their price objective on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Robert W. Baird decreased their price objective 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. Two investment analysts have rated the stock with a hold rating, five have given 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 a consensus target price 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.