Acuta Capital Partners LLC Has $2.27 Million Holdings in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Acuta Capital Partners LLC cut its position in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 27.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200,000 shares of the company’s stock after selling 463,000 shares during the period. Mersana Therapeutics accounts for about 1.8% of Acuta Capital Partners LLC’s investment portfolio, making the stock its 19th largest position. Acuta Capital Partners LLC owned approximately 0.98% of Mersana Therapeutics worth $2,268,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MRSN. FMR LLC raised its position in Mersana Therapeutics by 13.2% during the third quarter. FMR LLC now owns 277,740 shares of the company’s stock valued at $525,000 after acquiring an additional 32,332 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Mersana Therapeutics during the 3rd quarter valued at $34,000. HealthInvest Partners AB lifted its stake in shares of Mersana Therapeutics by 191.3% in the 3rd quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock valued at $1,018,000 after purchasing an additional 353,721 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at $52,000. Finally, GSA Capital Partners LLP boosted its holdings in Mersana Therapeutics by 368.9% in the third quarter. GSA Capital Partners LLP now owns 271,774 shares of the company’s stock worth $514,000 after purchasing an additional 213,814 shares in the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total value of $88,744.48. Following the completion of the transaction, the chief executive officer now directly owns 116,327 shares in the company, valued at approximately $204,735.52. This represents a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 70,849 shares of company stock worth $129,184. 11.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MRSN. Citigroup began coverage on Mersana Therapeutics in a report on Friday, November 15th. They set a “buy” rating and a $5.00 target price on the stock. Robert W. Baird decreased their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Mersana Therapeutics Price Performance

NASDAQ MRSN opened at $2.19 on Thursday. The stock has a 50-day simple moving average of $2.07 and a 200 day simple moving average of $1.99. Mersana Therapeutics, Inc. has a twelve month low of $1.22 and a twelve month high of $6.28. The stock has a market capitalization of $270.53 million, a PE ratio of -3.56 and a beta of 1.50. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 63.6% on a year-over-year basis. Research analysts anticipate that Mersana Therapeutics, Inc. will post -0.61 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.