Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Insider Acquires $11824.07 in Stock - Defense World - Financial Daily News Site

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Insider Acquires $11824.07 in Stock – Defense World


Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK – Get Rating) insider Gary L. Crocker purchased 2,323 shares of the stock in a transaction dated Tuesday, May 24th. The stock was bought at an average cost of $5.09 per share, with a total value of $11,824.07. Following the transaction, the insider now owns 125,872 shares in the company, valued at $640,688.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ:MACK traded up $0.35 during mid-day trading on Thursday, reaching $5.65. The company’s stock had a trading volume of 13,382 shares, compared to its average volume of 33,945. Merrimack Pharmaceuticals, Inc. has a 12-month low of $3.66 and a 12-month high of $7.41. The firm’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $5.24. The stock has a market cap of $75.77 million, a P/E ratio of -41.21 and a beta of 1.68.

Merrimack Pharmaceuticals (NASDAQ:MACK – Get Rating) last issued its earnings results on Wednesday, March 9th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter.

A number of large investors have recently modified their holdings of MACK. Sepio Capital LP raised its position in Merrimack Pharmaceuticals by 276.2% in the 1st quarter. Sepio Capital LP now owns 296,546 shares of the biopharmaceutical company’s stock worth $1,876,000 after buying an additional 217,717 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Merrimack Pharmaceuticals by 63.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 341,685 shares of the biopharmaceutical company’s stock valued at $1,650,000 after purchasing an additional 132,122 shares during the last quarter. Bronte Capital Management Pty Ltd. increased its position in shares of Merrimack Pharmaceuticals by 7.6% during the 1st quarter. Bronte Capital Management Pty Ltd. now owns 578,313 shares of the biopharmaceutical company’s stock valued at $3,658,000 after purchasing an additional 40,729 shares during the last quarter. BlackRock Inc. increased its position in shares of Merrimack Pharmaceuticals by 12.8% during the 3rd quarter. BlackRock Inc. now owns 211,051 shares of the biopharmaceutical company’s stock valued at $1,020,000 after purchasing an additional 23,961 shares during the last quarter. Finally, Yakira Capital Management Inc. increased its position in shares of Merrimack Pharmaceuticals by 20.7% during the 1st quarter. Yakira Capital Management Inc. now owns 88,683 shares of the biopharmaceutical company’s stock valued at $561,000 after purchasing an additional 15,233 shares during the last quarter. 55.93% of the stock is owned by institutional investors and hedge funds.

Separately, StockNews.com initiated coverage on Merrimack Pharmaceuticals in a research report on Saturday, May 21st. They issued a “sell” rating for the company.

Merrimack Pharmaceuticals Company Profile (Get Rating)

Merrimack Pharmaceuticals, Inc operates as a biopharmaceutical company. The company was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.

Further Reading

Insider Buying and Selling by Quarter for Merrimack Pharmaceuticals (NASDAQ:MACK)



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