EcoR1 Capital, LLC recently announced the acquisition of new stake in Mersana Therapeutics Inc (NASDAQ:MRSN). This fresh investment now brings its stake to 16.06% valued currently at $31.95 million. In addition, BlackRock Fund Advisors raised its holdings by 97475.0 to 6.92 million shares. And The Vanguard Group, Inc. has lifted its position by 8.35% or 0.46 million shares – to 5.95 million shares.
With over 4.96 million Mersana Therapeutics Inc (MRSN) shares trading Tuesday and a closing price of $3.23 on the day, the dollar volume was approximately $16.03 million. The shares have shown a negative half year performance of -12.94% and its price on 01/09/24 gained nearly 20.07%. Currently, there are 105.14M common shares owned by the public and among those 94.46M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for MRSN have a consensus price objective of $3.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $1.00. The average price target is -7.67% below its recent price level and a downside to the estimated low will see the stock lose -223.0% over that period. But an upside of 35.4% will see the stock hit the forecast high price target while median target price for the stock is $3.00.
Insiders at the company have transacted a total of 41 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 287,962 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 43,498 shares.
The top 3 mutual fund holders in Mersana Therapeutics Inc are BB Biotech AG, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. BB Biotech AG owns 5.21 million shares of the company’s stock, all valued at over $8.59 million. iShares Russell 2000 ETF bought 1335.0 shares to bring its total holdings to over 2.71 million shares at a value of $4.48 million. iShares Russell 2000 ETF now owns shares totaling to 2.25% of the shares outstanding.
Shares of Mersana Therapeutics Inc (NASDAQ: MRSN) opened at $2.61, down -$0.08 from a prior closing price of $2.69. However, the script later moved the day high at 3.2650, up 20.07%. The company’s stock has a 5-day price change of 42.29% and 144.70% over the past three months. MRSN shares are trading 39.22% year to date (YTD), with the 12-month market performance down to -41.80% lower. It has a 12-month low price of $0.80 and touched a high of $9.62 over the same period. MRSN has an average intraday trading volume of 2.00 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 50.79%, 83.53%, and 3.43% respectively.
Institutional ownership of Mersana Therapeutics Inc (NASDAQ: MRSN) shares accounts for 74.65% of the company’s 105.14M shares outstanding. Mutual fund holders own 21.96%, while other institutional holders and individual stakeholders account for 52.68% and 13.37% respectively.
It has a market capitalization of $389.47M and a beta (3y monthly) value of 1.35. The earnings-per-share (ttm) stands at -$1.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.67% over the week and 9.20% over the month.
Analysts forecast that Mersana Therapeutics Inc (MRSN) will achieve an EPS of -$0.21 for the current quarter, -$0.2 for the next quarter and -$0.75 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.28 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.44 a year ago. Earnings per share for the fiscal year are expected to increase by 30.40%, and 51.31% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Mersana Therapeutics Inc (MRSN) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 4 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MRSN, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on December 04, 2023, with the firm’s price target at $1-$5.
