After grabbing 19.36 million shares, the institutional investor is now in possession of 19.36 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 16.07% having worth around $23.04 million. Moreover, BlackRock Fund Advisors increased its share by 97475.0 to have a control over 6.92 million shares. And The Vanguard Group, Inc. raised its holdings to 0.46 million shares by acquiring 5.95 million shares or 4.94% of the stake.
Mersana Therapeutics Inc (MRSN) concluded trading on 12/06/23 at a closing price of $2.18, with 2.77 million shares of worth about $6.03 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -74.53% during that period and on Wednesday the price saw a gain of about 2.35%. Currently the company’s common shares owned by public are about 105.14M shares, out of which, 94.44M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the MRSN stock and their offered price forecasts bring an average price target of $3.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $1.00. The stock’s current price level is 27.33% above of average price target set by the analysts, while a rise to estimated low would result in loss of -118.0% for the stock. However, touching the estimated high of $5.00 would mean a gain of 56.4% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 43 times over the past 12 months. They bought 323,323 shares in 33 of the transactions. In 10 selling transactions, insiders dumped 43,498 shares.
BB Biotech AG, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Mersana Therapeutics Inc BB Biotech AG is currently holding 5.21 million shares of worth totaling $6.2 million. The company recently came buying 0.0 shares which brought its stake up to 4.32% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 2.61 million shares, have now control over 2.17% of the stake in the company. It holds 26255.0 shares of worth $3.11 million.
Mersana Therapeutics Inc (NASDAQ: MRSN) started trading at $2.20, above $0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 2.2868, or with a gain of 2.35%. Stock saw a price change of 37.11% in past 5 days and over the past one month there was a price change of 56.83%. Year-to-date (YTD), MRSN shares are showing a performance of -62.80% which decreased to -69.08% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.80 but also hit the highest price of $9.62 during that period. The average intraday trading volume for Mersana Therapeutics Inc shares is 2.27 million. The stock is currently trading 40.76% above its 20-day simple moving average (SMA20), while that difference is up 53.48% for SMA50 and it goes to -36.88% lower than SMA200.
EcoR1 Capital, LLC acquired 19.36 million shares of Mersana Therapeutics Inc having value of about $23.04 million. Mersana Therapeutics Inc (NASDAQ: MRSN) currently have 105.14M outstanding shares and institutions hold larger chunk of about 74.63% of that. Holding of mutual funds in the company is about 21.38% while other institutional holders and individual stake holders have control over 53.34% and 13.38% of the stake respectively.
The stock has a current market capitalization of $262.86M and its 3Y-monthly beta is at 1.28. It has posted earnings per share of -$1.78 in the same period. It has Quick Ratio of 3.68 while making debt-to-equity ratio of 0.66. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MRSN, volatility over the week remained 19.60% while standing at 11.80% over the month.
Analysts are in expectations that Mersana Therapeutics Inc (MRSN) stock would likely to be making an EPS of -$0.21 in the current quarter, while forecast for next quarter EPS is -$0.2 and it is -$0.75 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.28 which is -$0.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.44 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 33.20% while it is estimated to increase by 53.12% in next year.
Analysts at 9 brokerage firms have issued recommendations for the Mersana Therapeutics Inc (MRSN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.56. Out of those 9 Wall Street analysts, 3 recommended a “Buy” rating, while 5 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on December 04, 2023 offering a Buy rating for the stock and assigned a target price range of between $1 and $5 to it.
