MERSANA THERAPEUTICS INC
COM · CUSIP 59045L106
84
institutional holders
-28 vs Q1 2025
77.2m
shares reported held*
$22.8mreported value*
11 new
23 added
30 reduced
40 sold out
net sold ≈ $3.1m (-10.6m shares)
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $0.30. Options: 4 managers hold calls ($14.1k notional), 4 hold puts ($4.3k).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 153 |
| Q4 2022 | 153 |
| Q1 2023 | 159 |
| Q2 2023 | 148 |
| Q3 2023 | 129 |
| Q4 2023 | 107 |
| Q1 2024 | 126 |
| Q2 2024 | 123 |
| Q3 2024 | 117 |
| Q4 2024 | 133 |
| Q1 2025 | 112 |
| Q2 2025 | 84 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 60 | 88 |
| Q4 2023 | 51 | 75 |
| Q1 2024 | 71 | 55 |
| Q2 2024 | 62 | 57 |
| Q3 2024 | 49 | 50 |
| Q4 2024 | 53 | 53 |
| Q1 2025 | 50 | 79 |
| Q2 2025 | 34 | 70 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
CallsPuts
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $769.6k | $1.2m | 1.60 |
| Q4 2024 | $355.5k | $2.0m | 5.70 |
| Q1 2025 | $12.4k | $4.6k | 0.38 |
| Q2 2025 | $14.1k | $4.3k | 0.31 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | New | +2.1m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +2.0m |
| LUMINUS MANAGEMENT LLC | New | +1.0m |
| GOLDMAN SACHS GROUP INC | Added | +847.1k |
| TWO SIGMA INVESTMENTS, LP | Added | +769.6k |
| TWO SIGMA ADVISERS, LP | Added | +678.8k |
| JANE STREET GROUP, LLC | New | +511.2k |
| GSA CAPITAL PARTNERS LLP | New | +471.7k |
| UBS Group AG | Added | +455.7k |
| 683 Capital Management, LLC | Added | +340.0k |
Biggest sellers
| BlackRock, Inc. | Reduced | -4.6m |
| Venrock Adviser, LLC | Sold out | -3.6m |
| STATE STREET CORP | Reduced | -2.2m |
| Schonfeld Strategic Advisors LLC | Reduced | -1.9m |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -1.4m |
| Qube Research & Technologies Ltd | Reduced | -1.0m |
| VANGUARD GROUP INC | Reduced | -699.4k |
| NORTHERN TRUST CORP | Reduced | -642.1k |
| DEUTSCHE BANK AG\ | Reduced | -534.7k |
| Woodline Partners LP | Sold out | -435.6k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $10.2k34.3k shares |
| GROUP ONE TRADING LLC | Reduced | $2.9k9.8k shares |
| SIMPLEX TRADING, LLC | Added | $1.0k16.4k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $4.1k14.0k shares |
| GROUP ONE TRADING LLC | Unchanged | $148500 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
| SIMPLEX TRADING, LLC | Unchanged | $0500 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Nextech Crossover I GP S.a r.l. 13G · passive investor filed 2024-12-26 | 10.4% |
| VANGUARD GROUP INC 13G · institution filed 2025-04-30 | 6.7% |
Fell to 5% or below in the last year: Schonfeld Strategic Advisors LLC (0.0%, 2026-02-17)
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Nextech Invest Ltd. 0.68% of their portfolio | 12.1m $3.6m | Unchanged |
| Bain Capital Life Sciences Investors, LLC 0.32% of their portfolio | 8.7m $2.6m | Unchanged |
| VANGUARD GROUP INC 0.00% of their portfolio | 7.7m $2.3m | Reduced -699.4k |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 5.7m $1.7m | Reduced -1.9m |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 5.1m $1.5m | Reduced -14.1k |
| Rock Springs Capital Management LP 0.07% of their portfolio | 3.8m $1.1m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 3.8m $1.1m | Reduced -4.6m |
| SILVERARC CAPITAL MANAGEMENT, LLC 0.19% of their portfolio | 3.1m $926.0k | Added +39.9k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 3.0m $873.0k | Reduced -34.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 2.9m $843.7k | Added +2.0m |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 2.1m $618.7k | New |
| 683 Capital Management, LLC 0.06% of their portfolio | 2.0m $589.0k | Added +340.0k |
| Catalio Capital Management, LP 0.10% of their portfolio | 1.6m $464.0k | Reduced -137.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.4m $424.4k | Added +847.1k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio | 1.3m $394.6k | Reduced -179 |
| 5AM Venture Management, LLC 0.15% of their portfolio | 1.3m $386.3k | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.0m $310.7k | Reduced -1.4m |
| LUMINUS MANAGEMENT LLC 0.08% of their portfolio | 1.0m $307.6k | New |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 937.0k $277.4k | Added +678.8k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 823.3k $243.7k | Added +769.6k |
| UBS Group AG 0.00% of their portfolio | 775.5k $229.5k | Added +455.7k |
| Lion Point Capital, LP 1.29% of their portfolio | 644.0k $190.6k | Unchanged |
| IEQ CAPITAL, LLC 0.00% of their portfolio | 638.5k $189.0k | Reduced -68.6k |
| Alamea Verwaltungs GmbH 0.13% of their portfolio | 604.2k $178.8k | Unchanged |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 511.2k $151.3k | New |
| GSA CAPITAL PARTNERS LLP 0.01% of their portfolio | 471.7k $140.0k | New |
| STATE STREET CORP 0.00% of their portfolio | 452.1k $133.8k | Reduced -2.2m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 449.4k $133.0k | Added +208.3k |
| MORGAN STANLEY 0.00% of their portfolio | 357.6k $105.8k | Added +50.5k |
| Cerity Partners LLC 0.00% of their portfolio | 320.8k $95.0k | Added +76.6k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 305.1k $91.5k | Reduced -534.7k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 222.7k $65.9k | Reduced -642.1k |
| CWM, LLC 0.00% of their portfolio | 165.4k $49.0k | Reduced -19.4k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 152.9k $45.3k | Reduced -1.0m |
| MACQUARIE GROUP LTD 0.00% of their portfolio | 150.0k $44.0k | Unchanged |
| FMR LLC 0.00% of their portfolio | 138.5k $41.0k | Reduced -32.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 130.1k $38.5k | Added +79.4k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 126.7k $36.7k | Reduced -4.0k |
| ALGERT GLOBAL LLC 0.00% of their portfolio | 101.3k $30.0k | Reduced -33.7k |
| Pallas Capital Advisors LLC 0.00% of their portfolio | 96.7k $28.6k | Added +2.2k |
| Jain Global LLC 0.00% of their portfolio | 96.2k $28.5k | New |
| HRT FINANCIAL LP 0.00% of their portfolio | 93.4k $27.0k | Added +46.9k |
| Point72 Asia (Singapore) Pte. Ltd. 0.00% of their portfolio | 75.2k $22.2k | New |
| CITIGROUP INC 0.00% of their portfolio | 73.0k $21.6k | Reduced -8.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 66.6k $19.7k | Reduced -279.6k |
| QVT Financial LP 0.00% of their portfolio | 62.7k $18.5k | Unchanged |
| Callan Family Office, LLC 0.00% of their portfolio | 56.6k $16.7k | New |
| R Squared Ltd 0.01% of their portfolio | 47.2k $14.0k | Not comparable |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 41.7k $12.4k | Added +10.6k |
| Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio | 36.7k $10.9k | Reduced -5.9k |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 34.9k $10.3k | Added +14.8k |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 31.7k $9.4k | Added +5.5k |
| Merit Financial Group, LLC 0.00% of their portfolio | 31.6k $9.3k | Reduced -10.3k |
| Walleye Trading LLC 0.00% of their portfolio | 31.5k $9.3k | Unchanged |
| Mariner, LLC 0.00% of their portfolio | 31.2k $9.2k | Added +10.5k |
| Focus Partners Wealth 0.00% of their portfolio | 31.0k $9.2k | Added +447 |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 30.5k $8.8k | Added +18.0k |
| China Universal Asset Management Co., Ltd. 0.00% of their portfolio | 25.0k $7.4k | Added +253 |
| Jasper Ridge Partners, L.P. 0.00% of their portfolio | 23.1k $6.8k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 23.0k $6.8k | Reduced -55.5k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 20.1k $5.9k | Reduced -294.3k |
| TWO SIGMA SECURITIES, LLC 0.00% of their portfolio | 17.6k $5.2k | New |
| Parcion Private Wealth LLC 0.00% of their portfolio | 16.2k $4.8k | Added +941 |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 14.9k $4.4k | Reduced -46.6k |
| ExodusPoint Capital Management, LP 0.00% of their portfolio | 11.4k $3.0k | New |
| Jump Financial, LLC 0.00% of their portfolio | 11.3k $3.4k | New |
| Hunter Perkins Capital Management, LLC 0.00% of their portfolio | 10.0k $3.0k | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 9.8k $2.9k | Reduced -112.0k |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 5.5k $1.6k | Added +2.8k |
| Essential Partners LLC 0.00% of their portfolio | 5.4k $1.6k | First filing |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 4.8k $1.4k | Added +680 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 2.8k $818 | Reduced -198.7k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 2.6k $754 | Reduced -736 |
| GF FUND MANAGEMENT CO. LTD. 0.00% of their portfolio | 2.6k $768 | Unchanged |
| Optiver Holding B.V. 0.00% of their portfolio | 2.3k $684 | Unchanged |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 1.1k $311 | Reduced -250 |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 893 $264 | Reduced -2.6k |
| HUNTINGTON NATIONAL BANK 0.00% of their portfolio | 800 $237 | Unchanged |
| IFP Advisors, Inc 0.00% of their portfolio | 677 $201 | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 300 $0 | Reduced -1.3k |
| North Star Investment Management Corp. 0.00% of their portfolio | 150 $44 | Unchanged |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 1 $0 | Unchanged |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 1 $0 | Unchanged |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio | 0 $0 | Unchanged |