Mersana Therpts (NASDAQ:MRSN) Receives New Coverage from Analysts at Cowen and Company

Cowen and Company assumed coverage on shares of Mersana Therpts (NASDAQ:MRSN) in a research report released on Monday, July 24th. The brokerage issued an outperform rating on the stock.

Mersana Therpts (MRSN) traded up 3.07% during midday trading on Monday, hitting $16.10. The stock had a trading volume of 68,759 shares. The stock has a 50-day moving average of $14.55 and a 200-day moving average of $14.54. The firm’s market cap is $365.68 million. Mersana Therpts has a 52 week low of $12.71 and a 52 week high of $16.25.

Mersana Therpts (NASDAQ:MRSN) last issued its quarterly earnings results on Friday, August 11th. The company reported ($6.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $5.77. The business had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.33 million. Analysts forecast that Mersana Therpts will post ($6.59) EPS for the current fiscal year.

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In other news, major shareholder M James Barrett bought 1,000,000 shares of Mersana Therpts stock in a transaction dated Monday, July 3rd. The stock was bought at an average cost of $15.00 per share, for a total transaction of $15,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in shares of Mersana Therpts during the second quarter valued at approximately $179,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Mersana Therpts during the second quarter valued at approximately $676,000. Goldman Sachs Group Inc. purchased a new stake in shares of Mersana Therpts during the second quarter valued at approximately $699,000. Laurion Capital Management LP purchased a new stake in shares of Mersana Therpts during the second quarter valued at approximately $699,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Mersana Therpts during the second quarter valued at approximately $754,000. Institutional investors own 40.07% of the company’s stock.

Mersana Therpts 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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