Mersana Therapeutics, Inc. $MRSN Shares Purchased by 683 Capital Management LLC

683 Capital Management LLC increased its holdings in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 20.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,990,000 shares of the company’s stock after purchasing an additional 340,000 shares during the period. 683 Capital Management LLC owned approximately 0.40% of Mersana Therapeutics worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MRSN. Invesco Ltd. raised its position in shares of Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after acquiring an additional 59,991 shares during the period. JPMorgan Chase & Co. boosted its position in Mersana Therapeutics by 156.6% during the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after acquiring an additional 79,390 shares during the last quarter. Algert Global LLC grew its position in shares of Mersana Therapeutics by 124.7% in the first quarter. Algert Global LLC now owns 135,013 shares of the company’s stock valued at $46,000 after purchasing an additional 74,930 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Mersana Therapeutics in the second quarter valued at approximately $68,000. Finally, Nuveen LLC acquired a new stake in shares of Mersana Therapeutics in the first quarter valued at approximately $80,000. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

Mersana Therapeutics Price Performance

Shares of NASDAQ:MRSN opened at $28.35 on Friday. Mersana Therapeutics, Inc. has a 1-year low of $5.21 and a 1-year high of $57.75. The stock has a market cap of $141.75 million, a P/E ratio of -2.04 and a beta of 0.45. The firm has a fifty day moving average price of $17.43 and a 200 day moving average price of $11.21.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.07). The firm had revenue of $11.01 million for the quarter, compared to analyst estimates of $14.20 million. Sell-side analysts expect that Mersana Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRSN has been the subject of several analyst reports. Lifesci Capital lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. William Blair lowered Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, November 13th. BTIG Research lowered Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a research note on Monday. Finally, Leerink Partnrs cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $38.19.

Mersana Therapeutics 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.