Mersana Therapeutics Inc. (NASDAQ: MRSN) Seen Running Too Hot, Let’s Look At This More Closely


VHCP Management LLC recently announced the acquisition of new stake in Mersana Therapeutics Inc. (NASDAQ:MRSN). This fresh investment now brings its stake to 3.92% valued currently at $61.4 million. In addition, BVF Partners LP raised its holdings by 1.19 million to 2.37 million shares. And BlackRock Fund Advisors has lifted its position by 2.77% or 62075.0 shares – to 2.3 million shares.

With over 0.67 million Mersana Therapeutics Inc. (MRSN) shares trading Wednesday and a closing price of $22.60 on the day, the dollar volume was approximately $15.17 million. The shares have shown a negative weekly performance of -1.09% and its price on 07/15/20 gained nearly 6.35%. Currently, there are 47.99M common shares owned by the public and among those 45.17M shares have been available to trade.

Incidentally, analysts’ outlook for the Mersana Therapeutics Inc. stock is 1.30 for the next 12 months.

Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 4,249,601 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 16,190,896 shares.

The top 3 mutual fund holders in Mersana Therapeutics Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and SPDR S&P Biotech ETF. Vanguard Total Stock Market Index owns 1.55 million shares of the company’s stock, all valued at over $36.17 million. The company bought an additional 0.51 million shares recently to bring their total holdings to about 2.31% of the shares outstanding. iShares Russell 2000 ETF sold 23994.0 shares to see its total holdings shrink to 0.95 million shares valued at over $22.14 million and representing 1.41% of the shares outstanding. SPDR S&P Biotech ETF bought 14620.0 shares to bring its total holdings to over 0.71 million shares at a value of $16.66 million. SPDR S&P Biotech ETF now owns shares totaling to 1.06% of the shares outstanding.

Shares of Mersana Therapeutics Inc. (NASDAQ: MRSN) opened at $21.75, up $0.5 from a prior closing price of $21.25. However, the script later closed the day at $22.60, up 6.35%. The company’s stock has a 5-day price change of -1.09% and 165.26% over the past three months. MRSN shares are trading 294.42% year to date (YTD), with the 12-month market performance up to 463.59% higher. It has a 12-month low price of $1.32 and touched a high of $24.97 over the same period. Currently, 0.67 million shares have been traded, compared to an average intraday trading volume of 1.99 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.30%, 28.49%, and 168.51% respectively.

Institutional ownership of Mersana Therapeutics Inc. (NASDAQ: MRSN) shares accounts for 60.40% of the company’s 47.99M shares outstanding. Mutual fund holders own 18.29%, while other institutional holders and individual stakeholders account for 25.78% and 15.12% respectively.

It has a market capitalization of $1.58B. The earnings-per-share (ttm) stands at -$1.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.97% over the week and 9.35% over the month.

Analysts forecast that Mersana Therapeutics Inc. (MRSN) will achieve an EPS of -$0.31 for the current quarter, -$0.28 for the next quarter and -$1.12 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.24. Comparatively, EPS for the current quarter was -$0.36 a year ago. Earnings per share for the fiscal year are expected to increase by 76.80%, and 8.20% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Mersana Therapeutics Inc. (MRSN) as a “Strong Buy” at a consensus score of 1.30. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the MRSN, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on April 29, 2020, with the firm’s price target at $14. H.C. Wainwright coverage for the Mersana Therapeutics Inc. (MRSN) stock in a research note released on January 21, 2020 offered a Buy rating with a price target of $12. JP Morgan was of a view on March 11, 2019 that the stock is Underweight, while Leerink Partners gave the stock Outperform rating on November 14, 2018, issuing a price target of. Robert W. Baird on their part issued Outperform rating on May 08, 2018.


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