Insider Selling: Mersana Therapeutics, Inc. (NASDAQ:MRSN) CFO Sells $16,178.00 in Stock

Mersana Therapeutics, Inc. (NASDAQ:MRSN) CFO Brian Deschuytner sold 8,089 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $2.00, for a total transaction of $16,178.00. Following the sale, the chief financial officer now directly owns 100,422 shares in the company, valued at $200,844. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $1.88 on Thursday. The company has a market cap of $230.04 million, a P/E ratio of -1.65 and a beta of 1.49. The company has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $2.37. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 2.02. Mersana Therapeutics, Inc. has a 12-month low of $1.07 and a 12-month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $8.72 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The firm’s quarterly revenue was down 78.3% compared to the same quarter last year. Sell-side analysts predict that Mersana Therapeutics, Inc. will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of Mersana Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRSN. Vanguard Group Inc. boosted its position in shares of Mersana Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after buying an additional 36,782 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Mersana Therapeutics by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock worth $2,911,000 after acquiring an additional 20,400 shares during the last quarter. ClariVest Asset Management LLC grew its stake in shares of Mersana Therapeutics by 6.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock worth $1,006,000 after acquiring an additional 28,650 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Mersana Therapeutics by 166.7% in the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock valued at $2,099,000 after purchasing an additional 293,115 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Mersana Therapeutics by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 452,829 shares of the company’s stock valued at $910,000 after purchasing an additional 74,092 shares in the last quarter. 93.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MRSN has been the topic of several research analyst reports. Robert W. Baird cut their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Citigroup cut their price target on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mersana Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price 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.