Mersana Therapeutics, Inc. (NASDAQ:MRSN) Short Interest Update

Mersana Therapeutics, Inc. (NASDAQ:MRSN) saw a large decline in short interest in 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. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,400,000 shares, the days-to-cover ratio is currently 1.6 days.

Mersana Therapeutics Price Performance

MRSN traded up $0.01 during trading on Wednesday, hitting $0.34. 2,530,573 shares of the company traded hands, compared to its average volume of 2,424,381. 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 company has a market cap of $42.36 million, a PE ratio of -0.56 and a beta of 1.68. The stock’s 50-day simple moving average is $0.53 and its two-hundred day simple moving average is $1.40. Mersana Therapeutics has a 1 year low of $0.33 and a 1 year 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, beating analysts’ consensus estimates of ($0.16) by $0.05. The firm had revenue of $16.36 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MRSN has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $4.00 price target on shares of Mersana Therapeutics in a research note on Monday, March 3rd. William Blair initiated coverage on Mersana Therapeutics in a research report on Thursday, February 6th. They set 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $4.00.

Institutional Trading of Mersana Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Mersana Therapeutics by 1.6% during the 3rd quarter. State Street Corp now owns 2,725,394 shares of the company’s stock valued at $5,151,000 after acquiring an additional 43,339 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Mersana Therapeutics by 104.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock valued at $1,877,000 after purchasing an additional 507,453 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Mersana Therapeutics by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock worth $4,444,000 after buying an additional 374,460 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Mersana Therapeutics by 186.0% in the 3rd quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock worth $656,000 after buying an additional 225,823 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Mersana Therapeutics by 28.7% during the 4th quarter. SG Americas Securities LLC now owns 112,291 shares of the company’s stock valued at $161,000 after buying an additional 25,058 shares in the last quarter. Institutional investors own 93.92% of the company’s stock.

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.