Mersana Therapeutics Inc (MRSN) Short Interest Down 48.1% in January

Mersana Therapeutics Inc (NASDAQ:MRSN) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 589,489 shares, a drop of 48.1% from the January 15th total of 1,136,169 shares. Currently, 5.6% of the company’s shares are short sold. Based on an average trading volume of 138,454 shares, the days-to-cover ratio is presently 4.3 days.

NASDAQ:MRSN opened at $6.35 on Thursday. Mersana Therapeutics has a 12 month low of $2.85 and a 12 month high of $23.96. The stock has a market capitalization of $141.64 million, a price-to-earnings ratio of -1.97 and a beta of 1.58.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Tuesday, November 13th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.16). Mersana Therapeutics had a negative net margin of 440.47% and a negative return on equity of 110.44%. The company had revenue of $2.15 million during the quarter, compared to analysts’ expectations of $3.98 million. As a group, equities research analysts anticipate that Mersana Therapeutics will post -2.51 EPS for the current fiscal year.

A number of research analysts recently weighed in on MRSN shares. HC Wainwright set a $14.00 target price on Mersana Therapeutics and gave the company a “buy” rating in a report on Friday, January 4th. Leerink Swann upgraded Mersana Therapeutics from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 14th. They noted that the move was a valuation call. Finally, ValuEngine cut Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.33.

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in Mersana Therapeutics by 46.2% in the fourth quarter. Rhumbline Advisers now owns 16,102 shares of the company’s stock valued at $66,000 after purchasing an additional 5,090 shares during the period. Schwab Charles Investment Management Inc. raised its position in Mersana Therapeutics by 20.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,500 shares of the company’s stock valued at $438,000 after purchasing an additional 4,200 shares during the period. Bank of New York Mellon Corp raised its position in Mersana Therapeutics by 27.4% in the second quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock valued at $564,000 after purchasing an additional 6,804 shares during the period. Hikari Power Ltd purchased a new position in Mersana Therapeutics in the fourth quarter valued at about $348,000. Finally, Millennium Management LLC purchased a new position in Mersana Therapeutics in the second quarter valued at about $2,198,000. 85.85% of the stock is currently owned by institutional investors.

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About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.

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