BlackRock Fund Advisors recently announced the acquisition of new stake in Mersana Therapeutics Inc. (NASDAQ:MRSN). The institutional investor has increased its shareholding in the Healthcare company by 0.25% to 6.4 million shares with purchase of 15793.0 shares. This fresh investment now brings its stake to 5.93% valued currently at $28.03 million. In addition, SSgA Funds Management, Inc. raised its holdings by 1.8 million to 5.86 million shares. And The Vanguard Group, Inc. has lifted its position by 1.58% or 66792.0 shares – to 4.31 million shares.
With over 1.37 million Mersana Therapeutics Inc. (MRSN) shares trading Monday and a closing price of $7.66 on the day, the dollar volume was approximately $10.52 million. The shares have shown a positive half year performance of 17.48% and its price on 05/22/23 lost nearly -0.91%. Currently, there are 107.52M common shares owned by the public and among those 98.67M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for MRSN have a consensus price objective of $15.14. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $11.00. The average price target is 51.61% above its recent price level and an upside to the estimated low will see the stock gain 30.36% over that period. But an upside of 61.7% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 571,221 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 47,084 shares.
The top 3 mutual fund holders in Mersana Therapeutics Inc. are BB Biotech AG, SPDR S&P Biotech ETF, and Biotech Growth Trust Plc. BB Biotech AG owns 4.19 million shares of the company’s stock, all valued at over $18.35 million. The company bought an additional 0.32 million shares recently to bring their total holdings to about 3.88% of the shares outstanding. SPDR S&P Biotech ETF bought 73205.0 shares to see its total holdings expand to 4.18 million shares valued at over $18.33 million and representing 3.87% of the shares outstanding. Biotech Growth Trust Plc bought 0.56 million shares to bring its total holdings to over 2.87 million shares at a value of $12.58 million. Biotech Growth Trust Plc now owns shares totaling to 2.66% of the shares outstanding.
Shares of Mersana Therapeutics Inc. (NASDAQ: MRSN) opened at $7.79, up $0.06 from a prior closing price of $7.73. However, the script later moved the day high at 8.02, down -0.91%. The company’s stock has a 5-day price change of -3.65% and 31.16% over the past three months. MRSN shares are trading 30.72% year to date (YTD), with the 12-month market performance up to 122.03% higher. It has a 12-month low price of $2.91 and touched a high of $8.39 over the same period. MRSN has an average intraday trading volume of 1.83 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.77%, 48.91%, and 22.02% respectively.
Institutional ownership of Mersana Therapeutics Inc. (NASDAQ: MRSN) shares accounts for 96.70% of the company’s 107.52M shares outstanding. Mutual fund holders own 32.05%, while other institutional holders and individual stakeholders account for 47.38% and 14.76% respectively.
It has a market capitalization of $837.62M and a beta (3y monthly) value of 1.63. The earnings-per-share (ttm) stands at -$2.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.45% over the week and 9.08% over the month.
Analysts forecast that Mersana Therapeutics Inc. (MRSN) will achieve an EPS of -$0.5 for the current quarter, -$0.49 for the next quarter and -$1.53 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.56 while analysts give the company a high EPS estimate of -$0.44. Comparatively, EPS for the current quarter was -$0.55 a year ago. Earnings per share for the fiscal year are expected to increase by 9.50%, and 21.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Mersana Therapeutics Inc. (MRSN) as a “Strong Buy” at a consensus score of 1.40. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
