Tower Research Capital LLC TRC Reduces Stock Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Tower Research Capital LLC TRC decreased its position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 49.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,533 shares of the company’s stock after selling 23,776 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Mersana Therapeutics were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new position in shares of Mersana Therapeutics in the third quarter valued at approximately $28,000. Victory Capital Management Inc. purchased a new position in shares of Mersana Therapeutics during the 4th quarter worth $30,000. Nisa Investment Advisors LLC boosted its holdings in shares of Mersana Therapeutics by 479.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock worth $41,000 after purchasing an additional 14,600 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Mersana Therapeutics by 73.7% in the third quarter. Harbor Capital Advisors Inc. now owns 37,062 shares of the company’s stock valued at $47,000 after purchasing an additional 15,723 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Mersana Therapeutics in the third quarter valued at $59,000. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

Mersana Therapeutics Stock Performance

Shares of NASDAQ:MRSN traded up $0.22 during trading hours on Monday, hitting $3.16. The stock had a trading volume of 1,210,152 shares, compared to its average volume of 2,184,312. The stock’s fifty day simple moving average is $4.39 and its 200 day simple moving average is $2.99. The firm has a market capitalization of $383.32 million, a price-to-earnings ratio of -2.06 and a beta of 1.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.36 and a current ratio of 3.36. Mersana Therapeutics, Inc. has a 1-year low of $0.80 and a 1-year high of $9.62.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The firm had revenue of $10.70 million for the quarter, compared to analysts’ expectations 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 revenue was down 27.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) EPS. Sell-side analysts anticipate that Mersana Therapeutics, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MRSN. JPMorgan Chase & Co. upgraded shares of Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Tuesday, March 19th. Truist Financial upgraded shares of Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, February 29th. Wedbush raised 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 research 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 research note on Thursday, February 29th. Finally, BTIG Research upgraded shares of Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mersana Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $6.29.

About Mersana Therapeutics

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.