MERSANA THERPTS’s (MRSN) Quiet Period Set To End on August 7th

MERSANA THERPTS’s (NASDAQ:MRSN) quiet period will expire on Monday, August 7th. MERSANA THERPTS had issued 5,000,000 shares in its initial public offering on June 28th. The total size of the offering was $75,000,000 based on an initial share price of $15.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of research firms have recently weighed in on MRSN. J P Morgan Chase & Co began coverage on MERSANA THERPTS in a research note on Monday, July 24th. They set an “overweight” rating and a $23.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $25.00 price target on shares of MERSANA THERPTS in a research note on Monday, July 24th. Cowen and Company began coverage on MERSANA THERPTS in a research note on Monday, July 24th. They set an “outperform” rating for the company. Finally, Leerink Swann began coverage on MERSANA THERPTS in a research note on Monday, July 24th. They set an “outperform” rating and a $23.00 price target for the company.

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MERSANA THERPTS (NASDAQ:MRSN) opened at 15.42 on Friday. The firm’s market cap is $349.20 million. The stock’s 50 day moving average price is $14.41 and its 200-day moving average price is $14.41. MERSANA THERPTS has a one year low of $12.71 and a one year high of $15.87.

In related news, major shareholder M James Barrett bought 1,000,000 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC bought a new position in shares of MERSANA THERPTS during the second quarter valued at about $179,000. DekaBank Deutsche Girozentrale bought a new position in shares of MERSANA THERPTS during the second quarter valued at about $676,000. Laurion Capital Management LP bought a new position in shares of MERSANA THERPTS during the second quarter valued at about $699,000. Victory Capital Management Inc. bought a new position in shares of MERSANA THERPTS during the second quarter valued at about $754,000. Finally, Vanguard Group Inc. bought a new position in shares of MERSANA THERPTS during the second quarter valued at about $1,048,000. Institutional investors own 35.99% 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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