Not running redundant builds for a branch

In the scenario where you have some build configuration that is triggered on a merge and begins to run. Whilst that build configuration is running the branch (master let's say) is merged into again and another instance of the build steps are triggered because of the new version of master. Is it possible to stop the builds running for the previous version when the new version is detected. E.g. there is no point running tests on version 1.x.x of master when 1.x.x+1 is now out.