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

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. Approximately 8.0% of the shares of the stock are sold short. Based on an average trading volume of 5,400,000 shares, the days-to-cover ratio is currently 1.6 days.

Mersana Therapeutics Trading Down 6.8 %

MRSN traded down $0.02 on Thursday, hitting $0.32. The company had a trading volume of 990,403 shares, compared to its average volume of 2,424,580. The company’s fifty day moving average price is $0.53 and its 200 day moving average price is $1.40. Mersana Therapeutics has a 1 year low of $0.31 and a 1 year high of $4.64. 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 firm has a market cap of $39.47 million, a P/E ratio of -0.52 and a beta of 1.68.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $7.71 million. As a group, equities analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Mersana Therapeutics

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

Analyst Ratings Changes

Several research firms recently commented on MRSN. 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 began coverage on shares of Mersana Therapeutics in a report on Thursday, February 6th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Mersana Therapeutics presently has an average rating of “Buy” and an average target price of $4.00.

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.