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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) was the recipient of a significant 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 company’s shares are short sold. Based on an average daily volume of 100,063 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 100,063 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.3% of the company’s shares are short sold.

Mersana Therapeutics Price Performance

Shares of Mersana Therapeutics stock traded up $0.04 on Tuesday, hitting $29.08. 712,400 shares of the company’s stock traded hands, compared to its average volume of 110,923. The company has a fifty day moving average of $25.54 and a two-hundred day moving average of $14.11. Mersana Therapeutics has a one year low of $5.21 and a one year high of $36.25. The company has a market capitalization of $145.37 million, a price-to-earnings ratio of -2.10 and a beta of 0.44.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Mersana Therapeutics in the 1st quarter worth approximately $1,770,000. Acadian Asset Management LLC purchased a new position in Mersana Therapeutics in the first quarter worth $1,028,000. Jane Street Group LLC bought a new position in Mersana Therapeutics in the 2nd quarter valued at $151,000. 683 Capital Management LLC raised its stake in shares of Mersana Therapeutics by 20.6% during the 2nd quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock worth $589,000 after purchasing an additional 340,000 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Mersana Therapeutics during the 2nd quarter worth $68,000. 93.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MRSN has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mersana Therapeutics in a research report on Monday, December 29th. Truist Financial lowered shares of Mersana Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $36.00 to $30.75 in a report on Thursday, November 13th. William Blair downgraded Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Thursday, November 13th. Leerink Partnrs lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Lifesci Capital lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Mersana Therapeutics currently has a consensus rating of “Reduce” and a consensus price target of $38.19.

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.