Mersana Therapeutics (MRSN) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Mersana Therapeutics (NASDAQ:MRSN) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “

Mersana Therapeutics (MRSN) traded down $0.18 during midday trading on Wednesday, hitting $16.93. 93,900 shares of the stock were exchanged, compared to its average volume of 76,333. Mersana Therapeutics has a one year low of $12.71 and a one year high of $21.01. The firm has a market cap of $377.48 and a P/E ratio of -16.44.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.35) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.13. The company had revenue of $6.27 million for the quarter, compared to analyst estimates of $3.93 million. equities analysts expect that Mersana Therapeutics will post -2.9 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in shares of Mersana Therapeutics during the 3rd quarter valued at about $142,000. Citadel Advisors LLC acquired a new position in shares of Mersana Therapeutics during the 2nd quarter valued at about $179,000. Bank of New York Mellon Corp acquired a new position in shares of Mersana Therapeutics during the 3rd quarter valued at about $231,000. Goldman Sachs Group Inc. acquired a new position in shares of Mersana Therapeutics during the 2nd quarter valued at about $699,000. Finally, Laurion Capital Management LP acquired a new position in shares of Mersana Therapeutics during the 2nd quarter valued at about $699,000. 76.69% of the stock is owned by institutional investors.

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Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc is a United States-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). The Company focuses on advancing a pipeline of targeted oncology therapeutics leveraging its Fleximer immunoconjugate technology. The Fleximer platform allows it to design ADCs with specific properties and manage the drug’s chances of attacking cancers.

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