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

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

Analyst Ratings Changes

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

Mersana Therapeutics Stock Performance

Shares of Mersana Therapeutics stock opened at $0.34 on Tuesday. The stock has a market capitalization of $42.90 million, a price-to-earnings ratio of -0.56 and a beta of 1.67. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50-day moving average of $0.54 and a 200 day moving average of $1.42. Mersana Therapeutics has a 12 month low of $0.34 and a 12 month high of $4.64.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $16.36 million during 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, sell-side analysts forecast that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Mersana Therapeutics

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

About Mersana Therapeutics

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.