Mersana Therapeutics Inc (NASDAQ:MRSN) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 728,400 shares, a growth of 20.6% from the September 30th total of 603,800 shares. Based on an average trading volume of 277,800 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.1% of the shares of the company are sold short.
Shares of NASDAQ MRSN traded down $0.14 during mid-day trading on Thursday, hitting $2.64. 231,100 shares of the company were exchanged, compared to its average volume of 242,289. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $1.75 and a 200-day simple moving average of $3.25. Mersana Therapeutics has a 1-year low of $1.32 and a 1-year high of $7.65. The firm has a market cap of $106.78 million, a price-to-earnings ratio of -0.95 and a beta of 1.51.
Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.02. Mersana Therapeutics had a negative return on equity of 41.14% and a negative net margin of 79.49%. The firm had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.50 million. Analysts anticipate that Mersana Therapeutics will post -0.6 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. ValuEngine raised Mersana Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research raised Mersana Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Mersana Therapeutics in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Mersana Therapeutics has an average rating of “Buy” and an average target price of $7.83.
Several hedge funds and other institutional investors have recently modified their holdings of MRSN. Marshall Wace LLP acquired a new stake in shares of Mersana Therapeutics during the first quarter worth $141,000. Acadian Asset Management LLC acquired a new stake in shares of Mersana Therapeutics during the second quarter worth $204,000. Russell Investments Group Ltd. lifted its holdings in shares of Mersana Therapeutics by 41.8% during the second quarter. Russell Investments Group Ltd. now owns 13,900 shares of the company’s stock worth $56,000 after purchasing an additional 4,100 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Mersana Therapeutics during the second quarter worth $397,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Mersana Therapeutics by 144.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 85,045 shares of the company’s stock worth $345,000 after purchasing an additional 50,195 shares during the period. 83.50% of the stock is owned by hedge funds and other institutional investors.
Mersana Therapeutics Company Profile
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.
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