Readystate Asset Management LP Makes New Investment in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Readystate Asset Management LP acquired a new position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 295,038 shares of the company’s stock, valued at approximately $684,000. Readystate Asset Management LP owned 0.24% of Mersana Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in shares of Mersana Therapeutics in the third quarter worth about $28,000. Bayesian Capital Management LP bought a new position in Mersana Therapeutics during the fourth quarter valued at approximately $28,000. Victory Capital Management Inc. purchased a new position in Mersana Therapeutics during the 4th quarter valued at approximately $30,000. Quantbot Technologies LP purchased a new position in Mersana Therapeutics during the 1st quarter valued at approximately $37,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Mersana Therapeutics during the 4th quarter valued at approximately $37,000. Institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Trading Down 5.1 %

Shares of MRSN stock traded down $0.18 on Thursday, reaching $3.34. 1,273,915 shares of the company’s stock were exchanged, compared to its average volume of 2,205,871. Mersana Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $9.62. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $405.14 million, a PE ratio of -2.23 and a beta of 1.50. The company’s fifty day simple moving average is $4.48 and its 200 day simple moving average is $2.89.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The firm had revenue of $10.70 million during the quarter, compared to analyst estimates of $22.59 million. Mersana Therapeutics’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same period last year, the company earned ($0.44) EPS. As a group, analysts forecast that Mersana Therapeutics, Inc. will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MRSN shares. BTIG Research upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Thursday, February 29th. Truist Financial upgraded Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $2.00 to $7.00 in a report on Thursday, February 29th. Guggenheim upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Thursday, February 29th. Finally, Robert W. Baird lifted their target price on Mersana Therapeutics from $1.00 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.29.

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.