Merrimack Pharmaceuticals (NASDAQ:MACK) Stock Price Passes Above 200 Day Moving Average of $12.65

Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACKGet Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.65 and traded as high as $14.21. Merrimack Pharmaceuticals shares last traded at $13.99, with a volume of 118,954 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st.

Read Our Latest Research Report on Merrimack Pharmaceuticals

Merrimack Pharmaceuticals Trading Up 1.4 %

The stock has a market capitalization of $200.34 million, a PE ratio of -139.90 and a beta of 1.45. The company’s 50 day simple moving average is $13.24 and its 200 day simple moving average is $12.65.

Insiders Place Their Bets

In other news, Director Eric Andersen bought 48,693 shares of the stock in a transaction on Tuesday, December 26th. The stock was purchased at an average cost of $13.15 per share, with a total value of $640,312.95. Following the purchase, the director now owns 533,151 shares of the company’s stock, valued at $7,010,935.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders bought 150,900 shares of company stock valued at $1,953,996. Company insiders own 28.87% of the company’s stock.

Institutional Trading of Merrimack Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Western Standard LLC boosted its position in Merrimack Pharmaceuticals by 30.5% during the 4th quarter. Western Standard LLC now owns 1,529,494 shares of the biopharmaceutical company’s stock worth $17,528,000 after purchasing an additional 357,031 shares during the period. BlackRock Inc. raised its stake in shares of Merrimack Pharmaceuticals by 204.3% in the 2nd quarter. BlackRock Inc. now owns 676,290 shares of the biopharmaceutical company’s stock valued at $8,318,000 after purchasing an additional 454,037 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Merrimack Pharmaceuticals by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 600,344 shares of the biopharmaceutical company’s stock valued at $7,402,000 after purchasing an additional 43,546 shares in the last quarter. Sepio Capital LP grew its position in shares of Merrimack Pharmaceuticals by 4.1% during the 3rd quarter. Sepio Capital LP now owns 306,680 shares of the biopharmaceutical company’s stock valued at $3,781,000 after buying an additional 12,135 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Merrimack Pharmaceuticals by 87.3% during the 2nd quarter. Geode Capital Management LLC now owns 243,802 shares of the biopharmaceutical company’s stock valued at $2,999,000 after buying an additional 113,638 shares during the last quarter. 55.90% of the stock is owned by hedge funds and other institutional investors.

About Merrimack Pharmaceuticals

(Get Free Report)

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

Featured Articles

Receive News & Ratings for Merrimack Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merrimack Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.