State Street Corp Has $5.15 Million Holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

State Street Corp raised its stake in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,725,394 shares of the company’s stock after purchasing an additional 43,339 shares during the period. State Street Corp owned approximately 2.22% of Mersana Therapeutics worth $5,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Mersana Therapeutics by 104.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock valued at $1,877,000 after purchasing an additional 507,453 shares in the last quarter. US Bancorp DE bought a new position in Mersana Therapeutics during the 3rd quarter valued at $31,000. Federated Hermes Inc. boosted its holdings in Mersana Therapeutics by 105,301.7% during the 2nd quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after acquiring an additional 185,331 shares during the last quarter. FMR LLC grew its stake in shares of Mersana Therapeutics by 13.2% in the 3rd quarter. FMR LLC now owns 277,740 shares of the company’s stock worth $525,000 after acquiring an additional 32,332 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Mersana Therapeutics by 95.8% in the third quarter. Exchange Traded Concepts LLC now owns 85,006 shares of the company’s stock valued at $161,000 after purchasing an additional 41,586 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

Mersana Therapeutics Price Performance

Shares of NASDAQ:MRSN opened at $1.50 on Monday. The company has a market capitalization of $185.30 million, a P/E ratio of -2.46 and a beta of 1.40. The company’s 50-day moving average is $2.10 and its 200 day moving average is $1.94. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. Mersana Therapeutics, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last released its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.60 million for the quarter, compared to analysts’ expectations of $7.53 million. During the same period in the previous year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 63.6% on a year-over-year basis. On average, equities research analysts forecast that Mersana Therapeutics, Inc. will post -0.61 earnings per share for the current year.

Analyst Ratings Changes

Separately, Citigroup began coverage on shares of Mersana Therapeutics in a report on Friday, November 15th. They set a “buy” rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Mersana Therapeutics has an average rating of “Moderate Buy” and a consensus 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.