5 Best Biotech Stocks Under $10

4. Mersana Therapeutics, Inc. (NASDAQ:MRSN)

Share Price as of September 23: $6.15

Number of Hedge Fund Holders: 23

Mersana Therapeutics, Inc. (NASDAQ:MRSN) is a clinical-stage biotechnology company that is involved in the research and development of antibody-drug conjugates for the treatment of cancer. On September 12, Mersana Therapeutics, Inc. (NASDAQ:MRSN) announced it has received Fast Track designation from the FDA for XMT-1660, the company’s ADC-based treatment for breast cancer.

Wall Street sees upside to Mersana Therapeutics, Inc. (NASDAQ:MRSN). On August 9, Baird analyst Collen Kusy raised her price target on Mersana Therapeutics, Inc. (NASDAQ:MRSN) to $20 from $18 and maintained a buy-side Outperform rating on the shares.

As of September 23, Mersana Therapeutics, Inc. (NASDAQ:MRSN) has gained 55.7% over the past six months.

At the close of Q2 2022, Insider Monkey found 23 hedge funds that held stakes in Mersana Therapeutics, Inc. (NASDAQ:MRSN). The total stakes of these hedge funds amounted to $187.7 million. This is compared to 26 positions in the previous quarter with stakes worth $122.6 million.

As of June 30, OrbiMed Advisors is the leading shareholder in Mersana Therapeutics, Inc. (NASDAQ:MRSN) with stakes worth $41.6 million. The investment covers 0.75% of the fund’s 13F portfolio.