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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 13,967 shares, a drop of 74.3% from the December 15th total of 54,446 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 100,063 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 100,063 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Mersana Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in MRSN. Voleon Capital Management LP bought a new position in Mersana Therapeutics in the 3rd quarter valued at approximately $102,000. Bank of America Corp DE increased its holdings in shares of Mersana Therapeutics by 230.6% during the third quarter. Bank of America Corp DE now owns 66,397 shares of the company’s stock worth $515,000 after buying an additional 46,314 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Mersana Therapeutics in the 3rd quarter valued at $371,000. Invesco Ltd. lifted its stake in shares of Mersana Therapeutics by 109.3% in the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after acquiring an additional 59,991 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Mersana Therapeutics by 31.4% during the 2nd quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock valued at $95,000 after acquiring an additional 76,570 shares in the last quarter. 93.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wedbush downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Guggenheim lowered Mersana Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Mersana Therapeutics in a research note on Monday, December 29th. Lifesci Capital cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, BTIG Research downgraded Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 13th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $38.19.

Mersana Therapeutics Price Performance

MRSN traded up $0.04 during trading on Tuesday, hitting $29.08. 712,400 shares of the stock traded hands, compared to its average volume of 110,923. The business has a 50 day moving average price of $25.54 and a 200 day moving average price of $14.11. The company has a market cap of $145.37 million, a price-to-earnings ratio of -2.10 and a beta of 0.44. Mersana Therapeutics has a twelve month low of $5.21 and a twelve month high of $36.25.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Friday, November 14th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The firm had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. On average, equities research analysts predict that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.