JPMorgan Chase & Co. Grows Stock Holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

JPMorgan Chase & Co. lifted its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 18.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,351,359 shares of the company’s stock after purchasing an additional 374,460 shares during the period. JPMorgan Chase & Co. owned 1.90% of Mersana Therapeutics worth $4,444,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp raised its position in Mersana Therapeutics by 1.6% during the 3rd quarter. State Street Corp now owns 2,725,394 shares of the company’s stock valued at $5,151,000 after purchasing an additional 43,339 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Mersana Therapeutics by 1.4% during the second quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after buying an additional 20,400 shares during the period. Verition Fund Management LLC raised its holdings in shares of Mersana Therapeutics by 11,695.2% during the third quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock valued at $2,463,000 after acquiring an additional 1,292,200 shares in the last quarter. Exome Asset Management LLC purchased a new stake in Mersana Therapeutics in the third quarter worth $2,227,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in 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 acquiring an additional 507,453 shares in the last quarter. 93.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MRSN shares. Citigroup started coverage on shares of Mersana Therapeutics in a research report on Friday, November 15th. They set a “buy” rating and a $5.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $4.00 target price (down previously from $7.00) on shares of Mersana Therapeutics in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.57.

Mersana Therapeutics Trading Up 0.7 %

NASDAQ:MRSN opened at $0.62 on Friday. Mersana Therapeutics, Inc. has a one year low of $0.56 and a one year high of $6.28. The business has a fifty day moving average price of $1.81 and a 200-day moving average price of $1.83. The firm has a market capitalization of $76.42 million, a price-to-earnings ratio of -1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Mersana Therapeutics’s revenue for the quarter was up 63.6% on a year-over-year basis. Sell-side analysts forecast that Mersana Therapeutics, Inc. will post -0.61 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.