Hunter Perkins Capital Management LLC Trims Stock Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Hunter Perkins Capital Management LLC lowered its holdings in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 30.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,700 shares of the company’s stock after selling 11,300 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Mersana Therapeutics were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swiss National Bank increased its holdings in Mersana Therapeutics by 7.6% in the 1st quarter. Swiss National Bank now owns 135,996 shares of the company’s stock worth $543,000 after acquiring an additional 9,600 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Mersana Therapeutics by 880.4% during the 1st quarter. JPMorgan Chase & Co. now owns 309,629 shares of the company’s stock valued at $1,236,000 after buying an additional 278,047 shares in the last quarter. Bank of Montreal Can purchased a new stake in Mersana Therapeutics during the 1st quarter valued at approximately $4,665,000. BlackRock Inc. grew its holdings in Mersana Therapeutics by 2.0% during the 1st quarter. BlackRock Inc. now owns 7,626,196 shares of the company’s stock valued at $30,427,000 after buying an additional 146,967 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Mersana Therapeutics by 257.4% during the 1st quarter. Federated Hermes Inc. now owns 723,933 shares of the company’s stock valued at $2,888,000 after buying an additional 521,350 shares in the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Insiders Place Their Bets

In other Mersana Therapeutics news, Director Anna Protopapas sold 29,399 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $2.71, for a total value of $79,671.29. Following the completion of the sale, the director now owns 125,153 shares of the company’s stock, valued at $339,164.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Brian Deschuytner sold 9,327 shares of Mersana Therapeutics stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $2.71, for a total transaction of $25,276.17. Following the completion of the sale, the chief financial officer now owns 54,511 shares of the company’s stock, valued at $147,724.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anna Protopapas sold 29,399 shares of Mersana Therapeutics stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $2.71, for a total value of $79,671.29. Following the sale, the director now directly owns 125,153 shares of the company’s stock, valued at approximately $339,164.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,108 shares of company stock valued at $127,663. 12.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MRSN. JPMorgan Chase & Co. upgraded Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research report on Tuesday, March 19th. Robert W. Baird increased their target price on Mersana Therapeutics from $1.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $2.00 to $7.00 in a research 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 research report on Thursday, February 29th. Finally, 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 research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.29.

Mersana Therapeutics Stock Up 2.3 %

MRSN traded up $0.10 on Wednesday, hitting $4.40. The company had a trading volume of 466,478 shares, compared to its average volume of 2,366,244. The stock has a fifty day moving average price of $4.20 and a 200-day moving average price of $2.59. Mersana Therapeutics, Inc. has a 12-month low of $0.80 and a 12-month high of $9.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.36 and a quick ratio of 3.36.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $10.70 million for the quarter, compared to analyst estimates of $22.59 million. Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The firm’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. On average, equities research analysts forecast that Mersana Therapeutics, Inc. will post -0.57 EPS for the current year.

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.