Short Interest in Mersana Therapeutics, Inc. (NASDAQ:MRSN) Decreases By 15.8%

Mersana Therapeutics, Inc. (NASDAQ:MRSN) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 8,690,000 shares, a decline of 15.8% from the February 28th total of 10,320,000 shares. Based on an average daily volume of 5,400,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 8.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

MRSN has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and issued a $4.00 price objective on shares of Mersana Therapeutics in a research note on Monday, March 3rd. William Blair initiated coverage on shares of Mersana Therapeutics in a research report on Thursday, February 6th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mersana Therapeutics presently has a consensus rating of “Buy” and an average price target of $4.00.

Institutional Investors Weigh In On Mersana Therapeutics

Several institutional investors have recently made changes to their positions in MRSN. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mersana Therapeutics during the 3rd quarter worth approximately $34,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Mersana Therapeutics in the fourth quarter valued at $37,000. Intech Investment Management LLC acquired a new position in shares of Mersana Therapeutics during the 3rd quarter worth $52,000. Quarry LP purchased a new stake in shares of Mersana Therapeutics in the 3rd quarter worth about $57,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Mersana Therapeutics during the 4th quarter valued at about $65,000. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

Mersana Therapeutics Stock Performance

Shares of MRSN stock traded down $0.02 during mid-day trading on Thursday, hitting $0.32. The stock had a trading volume of 990,403 shares, compared to its average volume of 2,424,580. The firm has a market cap of $39.47 million, a PE ratio of -0.52 and a beta of 1.68. The company’s 50-day simple moving average is $0.53 and its 200-day simple moving average is $1.40. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. Mersana Therapeutics has a fifty-two week low of $0.31 and a fifty-two week high of $4.64.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The firm had revenue of $16.36 million during the quarter, compared to the consensus estimate of $7.71 million. Sell-side analysts anticipate that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.