Short Interest in Mersana Therapeutics, Inc. (NASDAQ:MRSN) Drops By 74.3%

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. William Blair cut shares of Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Mersana Therapeutics in a research note on Monday, December 29th. Leerink Partnrs cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Truist Financial lowered Mersana Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the company from $36.00 to $30.75 in a research report on Thursday, November 13th. Finally, Wedbush cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $38.19.

Institutional Investors Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Voleon Capital Management LP bought a new position in Mersana Therapeutics during the third quarter worth about $102,000. Bank of America Corp DE boosted its stake in shares of Mersana Therapeutics by 230.6% during the 3rd quarter. Bank of America Corp DE now owns 66,397 shares of the company’s stock worth $515,000 after acquiring an additional 46,314 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Mersana Therapeutics during the 3rd quarter worth approximately $371,000. Invesco Ltd. raised its stake in 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 period. Finally, Cerity Partners LLC raised its stake in Mersana Therapeutics by 31.4% in 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 during the period. 93.92% of the stock is owned by institutional investors.

Mersana Therapeutics Price Performance

MRSN stock traded up $0.04 during mid-day trading on Wednesday, reaching $29.08. The company had a trading volume of 712,400 shares, compared to its average volume of 110,923. 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 has a 52 week low of $5.21 and a 52 week high of $36.25. The stock has a 50 day simple moving average of $25.96 and a two-hundred day simple moving average of $14.25.

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

About Mersana Therapeutics

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.