690,272 Shares in Mersana Therapeutics, Inc. (NASDAQ:MRSN) Bought by Sphera Funds Management LTD.

Sphera Funds Management LTD. bought a new position in Mersana Therapeutics, Inc. (NASDAQ:MRSN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 690,272 shares of the company’s stock, valued at approximately $987,000.

Several other hedge funds also recently made changes to their positions in MRSN. Novo Holdings A S acquired a new stake in shares of Mersana Therapeutics in the 4th quarter worth $6,078,000. Boxer Capital Management LLC acquired a new stake in shares of Mersana Therapeutics in the 4th quarter worth $3,768,000. 683 Capital Management LLC lifted its stake in shares of Mersana Therapeutics by 392.4% in the 4th quarter. 683 Capital Management LLC now owns 900,000 shares of the company’s stock worth $1,287,000 after acquiring an additional 717,207 shares during the period. Millennium Management LLC lifted its stake in shares of Mersana Therapeutics by 206.4% in the 4th quarter. Millennium Management LLC now owns 795,973 shares of the company’s stock worth $1,138,000 after acquiring an additional 536,190 shares during the period. Finally, Rock Springs Capital Management LP lifted its stake in shares of Mersana Therapeutics by 12.6% in the 4th quarter. Rock Springs Capital Management LP now owns 3,431,684 shares of the company’s stock worth $4,907,000 after acquiring an additional 384,902 shares during the period. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Stock Down 17.2%

Shares of NASDAQ MRSN opened at $0.31 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. Mersana Therapeutics, Inc. has a 52 week low of $0.26 and a 52 week high of $2.83. The firm has a 50-day moving average price of $0.37 and a 200 day moving average price of $1.03. The stock has a market capitalization of $39.20 million, a price-to-earnings ratio of -0.52 and a beta of 1.32.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. Equities research analysts anticipate that Mersana Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRSN has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $3.00 target price on shares of Mersana Therapeutics in a research note on Thursday. William Blair assumed coverage on shares of Mersana Therapeutics in a research note on Thursday, February 6th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $3.67.

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.