Dimensional Fund Advisors LP Cuts Stock Position in Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Dimensional Fund Advisors LP lessened its holdings in shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) by 56.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,703 shares of the company’s stock after selling 17,540 shares during the period. Dimensional Fund Advisors LP’s holdings in Mersana Therapeutics were worth $28,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in Mersana Therapeutics by 105,301.7% in the 2nd quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after purchasing an additional 185,331 shares in the last quarter. ClariVest Asset Management LLC boosted its holdings in Mersana Therapeutics by 6.1% in the second quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock valued at $1,006,000 after purchasing an additional 28,650 shares during the last quarter. Bank of New York Mellon Corp grew its position in Mersana Therapeutics by 19.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,829 shares of the company’s stock worth $910,000 after purchasing an additional 74,092 shares during the period. SG Americas Securities LLC raised its stake in shares of Mersana Therapeutics by 313.9% during the 2nd quarter. SG Americas Securities LLC now owns 138,722 shares of the company’s stock valued at $279,000 after buying an additional 105,209 shares during the last quarter. Finally, Walleye Trading LLC acquired a new stake in Mersana Therapeutics during the first quarter worth about $141,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

NASDAQ:MRSN opened at $2.13 on Wednesday. The company has a fifty day simple moving average of $1.71 and a two-hundred day simple moving average of $2.29. The company has a market cap of $260.63 million, a price-to-earnings ratio of -1.87 and a beta of 1.49. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.02. Mersana Therapeutics, Inc. has a 52 week low of $1.07 and a 52 week high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Mersana Therapeutics had a negative return on equity of 333.91% and a negative net margin of 349.98%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $8.72 million. During the same period last year, the business posted ($0.47) EPS. Mersana Therapeutics’s revenue was down 78.3% on a year-over-year basis. As a group, equities analysts anticipate that Mersana Therapeutics, Inc. will post -0.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MRSN has been the topic of several recent research reports. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Robert W. Baird reduced their price target on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, Citigroup decreased their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mersana Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Insider Buying and Selling

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the transaction, the chief executive officer now owns 116,327 shares in the company, valued at approximately $204,735.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 68,965 shares of company stock valued at $125,605 over the last three months. 11.80% of the stock is currently owned by company insiders.

Mersana Therapeutics Company 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.