The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Mersana Therapeutics Inc shares valued at $3,580 were sold by Bala Mohan on Oct 28 ’24. At $1.90 per share, Bala Mohan sold 1,884 shares. The insider’s holdings dropped to 54,731 shares worth approximately $92495.39 following the completion of this transaction.
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Also, Bala, Mohan purchased 1,884 shares, netting a total of over 3,843 in proceeds.
Before that, DeSchuytner Brian had sold 8,089 shares from its account. In a trade valued at $16,178, the SVP, COO & CFO traded Mersana Therapeutics Inc shares for $2.00 each. Upon closing the transaction, the insider’s holdings decreased to 8,089 shares, worth approximately $0.17 million.
Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. As of February 29, 2024, Wedbush has increased its “Neutral” rating to a “an Outperform” for MRSN. Earlier on February 29, 2024, Guggenheim upgraded its rating. Their new recommendation was “a Buy” for MRSN stock which previously was a “a Neutral”.
Analyzing MRSN Stock Performance
During the last five days, there has been a drop of approximately -36.94%. Over the course of the year, Mersana Therapeutics Inc shares have dropped approximately -27.16%. Shares of the company reached a 52-week high of $6.28 on 03/11/24 and a 52-week low of $1.22 on 08/14/24. A 50-day SMA is recorded $2.16, while a 200-day SMA reached $2.51. Nevertheless, trading volume fell to 3.46 million shares from 1.03 million shares the previous day.
Support And Resistance Levels for Mersana Therapeutics Inc (MRSN)
According to the 24-hour chart, there is a support level at 1.55, which, if violated, would cause prices to drop to 1.40. In the upper region, resistance lies at 1.95. The next price resistance is at 2.20. RSI (Relative Strength Index) is 35.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 97.43%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
