Mersana Therapeutics, Inc. (NASDAQ:MRSN) Sees Large Decline in Short Interest

Mersana Therapeutics, Inc. (NASDAQ:MRSN) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 8,690,000 shares, a drop 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 short-interest ratio is presently 1.6 days. Currently, 8.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MRSN shares. William Blair began coverage on Mersana Therapeutics in a research note on Thursday, February 6th. They issued an “outperform” rating for the company. Wedbush reissued an “outperform” rating and issued a $4.00 target price on shares of Mersana Therapeutics in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mersana Therapeutics has a consensus rating of “Buy” and a consensus target price of $4.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in Mersana Therapeutics in the 3rd quarter worth $34,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Mersana Therapeutics in the fourth quarter worth about $37,000. Intech Investment Management LLC purchased a new position in shares of Mersana Therapeutics during the 3rd quarter valued at about $52,000. Quarry LP bought a new position in shares of Mersana Therapeutics during the 3rd quarter valued at approximately $57,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Mersana Therapeutics in the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

MRSN stock traded up $0.01 during trading on Wednesday, reaching $0.34. The stock had a trading volume of 2,530,573 shares, compared to its average volume of 2,424,381. The firm has a market cap of $42.36 million, a PE ratio of -0.56 and a beta of 1.68. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The stock’s 50 day moving average is $0.53 and its two-hundred day moving average is $1.40. Mersana Therapeutics has a 52 week low of $0.33 and a 52 week high of $4.64.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The firm had revenue of $16.36 million for the quarter, compared to analysts’ expectations of $7.71 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. As a group, equities 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.