Mersana Therapeutics, Inc. (NASDAQ:MRSN) Short Interest Down 74.3% in December

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

Institutional Trading of Mersana Therapeutics

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Lifesci Capital cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Wall Street Zen raised shares of Mersana Therapeutics to a “sell” rating in a report on Saturday, January 10th. Truist Financial downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $36.00 to $30.75 in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mersana Therapeutics in a report on Monday, December 29th. Finally, Leerink Partnrs downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $38.19.

Mersana Therapeutics Price Performance

Shares of NASDAQ:MRSN traded up $0.04 during midday trading on Thursday, hitting $29.08. The company had a trading volume of 712,400 shares, compared to its average volume of 110,923. Mersana Therapeutics has a twelve month low of $5.21 and a twelve month high of $36.25. The stock has a market cap of $145.37 million, a price-to-earnings ratio of -2.10 and a beta of 0.44. The business’s 50-day simple moving average is $26.37 and its 200-day simple moving average is $14.39.

Mersana Therapeutics (NASDAQ:MRSN) last issued its 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 business had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. As a group, sell-side analysts forecast 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.