Mersana Therapeutics, Inc. (NASDAQ:MRSN) Short Interest Down 15.8% in March

Mersana Therapeutics, Inc. (NASDAQ:MRSN) was the recipient of a significant decrease in short interest during 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. Currently, 8.0% of the company’s stock are short sold. Based on an average daily trading volume, of 5,400,000 shares, the days-to-cover ratio is presently 1.6 days.

Analysts Set New Price Targets

MRSN has been the subject of a number of recent analyst reports. William Blair started coverage on Mersana Therapeutics in a report on Thursday, February 6th. They set an “outperform” rating for the company. Wedbush restated an “outperform” rating and set a $4.00 target price on shares of Mersana Therapeutics in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Mersana Therapeutics presently has an average rating of “Buy” and an average price target of $4.00.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $0.34 on Tuesday. The company has a fifty day moving average of $0.54 and a two-hundred day moving average of $1.42. 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 1 year low of $0.34 and a 1 year high of $4.64. The company has a market capitalization of $42.90 million, a PE ratio of -0.56 and a beta of 1.67.

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

Hedge Funds Weigh In On Mersana Therapeutics

Institutional investors have recently modified their holdings of the business. Novo Holdings A S purchased a new stake in shares of Mersana Therapeutics in the fourth quarter valued at about $6,078,000. Boxer Capital Management LLC purchased a new stake in Mersana Therapeutics during the 4th quarter valued at approximately $3,768,000. Verition Fund Management LLC lifted its position in Mersana Therapeutics by 11,695.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock worth $2,463,000 after acquiring an additional 1,292,200 shares during the period. Exome Asset Management LLC purchased a new position in shares of Mersana Therapeutics in the 3rd quarter valued at approximately $2,227,000. Finally, 683 Capital Management LLC increased its holdings in shares of Mersana Therapeutics by 392.4% in the fourth quarter. 683 Capital Management LLC now owns 900,000 shares of the company’s stock valued at $1,287,000 after purchasing an additional 717,207 shares during the period. 93.92% of the stock is owned by institutional investors and hedge funds.

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.