Mersana Therapeutics Sees Unusually High Options Volume (NASDAQ:MRSN)

Mersana Therapeutics, Inc. (NASDAQ:MRSN - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock traders purchased 8,320 call options on the stock. This represents an increase of 1,954% compared to the typical volume of 405 call options.

Wall Street Analyst Weigh In

MRSN has been the subject of a number of research reports. 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. BTIG Research raised 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. Robert W. Baird increased their price target on Mersana Therapeutics from $1.00 to $5.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Truist Financial upgraded Mersana Therapeutics from a "hold" rating to a "buy" rating and set a $9.00 price objective for the company in a research report on Thursday, February 29th. Finally, Wedbush raised shares of Mersana Therapeutics from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $2.00 to $7.00 in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.29.

Hedge Funds Weigh In On Mersana Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. bought a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at about $28,000. Victory Capital Management Inc. purchased a new position in Mersana Therapeutics during the fourth quarter worth about $30,000. Nisa Investment Advisors LLC boosted its stake in shares of Mersana Therapeutics by 479.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company's stock worth $41,000 after buying an additional 14,600 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Mersana Therapeutics by 976.7% during the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company's stock valued at $42,000 after acquiring an additional 8,575 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Mersana Therapeutics during the third quarter worth $59,000. 93.92% of the stock is currently owned by institutional investors and hedge funds.

Mersana Therapeutics Price Performance

Mersana Therapeutics stock traded down $0.94 during trading hours on Thursday, reaching $2.46. 3,760,739 shares of the stock were exchanged, compared to its average volume of 2,124,832. The stock has a 50 day moving average of $4.29 and a two-hundred day moving average of $3.08. The company has a market cap of $298.41 million, a P/E ratio of -1.96 and a beta of 1.61. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.63. Mersana Therapeutics has a twelve month low of $0.80 and a twelve month high of $9.62.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.16). Mersana Therapeutics had a negative net margin of 465.80% and a negative return on equity of 282.36%. The business had revenue of $10.70 million for the quarter, compared to analysts' expectations of $22.59 million. During the same period last year, the firm posted ($0.44) earnings per share. The firm's quarterly revenue was down 27.1% compared to the same quarter last year. Equities analysts expect that Mersana Therapeutics will post -0.6 EPS for the current fiscal year.

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.