Mersana Therapeutics Target of Unusually High Options Trading (NASDAQ:MRSN)


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Mersana Therapeutics, Inc. (NASDAQ:MRSN) was the target of some unusual options trading activity on Tuesday. Traders acquired 4,110 call options on the stock. This represents an increase of approximately 390% compared to the average volume of 838 call options.

Several equities research analysts recently issued reports on the stock. SVB Leerink lifted their price target on shares of Mersana Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 9th. Zacks Investment Research downgraded shares of Mersana Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, January 9th. Finally, Stifel Nicolaus began coverage on shares of Mersana Therapeutics in a research note on Wednesday, December 2nd. They set a “buy” rating and a $33.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.83.

Shares of MRSN traded down $0.72 during midday trading on Tuesday, hitting $18.96. The company had a trading volume of 58,864 shares, compared to its average volume of 1,346,022. The company’s 50 day moving average price is $20.75 and its 200 day moving average price is $21.06. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -14.58 and a beta of 2.54. Mersana Therapeutics has a 52 week low of $4.12 and a 52 week high of $29.09. The company has a quick ratio of 13.05, a current ratio of 13.05 and a debt-to-equity ratio of 0.02.

In other news, Director Andrew A. F. Hack purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The shares were purchased at an average price of $18.39 per share, with a total value of $1,839,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy B. Lowinger sold 8,203 shares of Mersana Therapeutics stock in a transaction on Monday, December 21st. The stock was sold at an average price of $25.60, for a total transaction of $209,996.80. Following the sale, the insider now directly owns 1,874 shares in the company, valued at approximately $47,974.40. The disclosure for this sale can be found here. Insiders have sold a total of 17,198 shares of company stock worth $404,897 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Mersana Therapeutics by 1.6% in the 3rd quarter. BlackRock Inc. now owns 7,252,006 shares of the company’s stock worth $135,031,000 after purchasing an additional 114,266 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Mersana Therapeutics by 144.7% in the 3rd quarter. Federated Hermes Inc. now owns 278,515 shares of the company’s stock valued at $5,186,000 after buying an additional 164,709 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Mersana Therapeutics by 225.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 12,718 shares of the company’s stock valued at $237,000 after buying an additional 8,816 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Mersana Therapeutics by 21.2% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 23,780 shares of the company’s stock valued at $443,000 after buying an additional 4,160 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Mersana Therapeutics in the 3rd quarter valued at about $2,571,000.

Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.

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