Merrimack Pharmaceuticals Inc (MACK) Insider Acquires $172,530.30 in Stock

Merrimack Pharmaceuticals Inc (NASDAQ:MACK) insider Lp 22Nw purchased 30,110 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was bought at an average price of $5.73 per share, for a total transaction of $172,530.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Lp 22Nw also recently made the following trade(s):

  • On Friday, April 5th, Lp 22Nw acquired 50,000 shares of Merrimack Pharmaceuticals stock. The stock was acquired at an average cost of $6.12 per share, for a total transaction of $306,000.00.

NASDAQ:MACK traded up $0.08 during trading hours on Friday, hitting $5.94. The company’s stock had a trading volume of 144 shares, compared to its average volume of 73,640. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 0.25. Merrimack Pharmaceuticals Inc has a twelve month low of $3.34 and a twelve month high of $10.53.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings data on Wednesday, March 6th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.04.

Separately, ValuEngine raised Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Merrimack Pharmaceuticals currently has an average rating of “Hold” and an average target price of $4.38.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter valued at about $70,000. Acadian Asset Management LLC boosted its stake in shares of Merrimack Pharmaceuticals by 978.2% in the 1st quarter. Acadian Asset Management LLC now owns 25,058 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 22,734 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Merrimack Pharmaceuticals by 78.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 55,124 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 24,173 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Merrimack Pharmaceuticals by 20.5% in the 4th quarter. Northern Trust Corp now owns 60,417 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 10,263 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Merrimack Pharmaceuticals by 28.7% in the 4th quarter. Two Sigma Investments LP now owns 72,877 shares of the biopharmaceutical company’s stock valued at $281,000 after purchasing an additional 16,254 shares in the last quarter. 46.20% of the stock is currently owned by hedge funds and other institutional investors.

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About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that targets biomarker-defined cancers. The company is developing MM-310, an antibody-directed nanotherapeutic, which is in Phase I clinical trial to treat patients with solid tumors. Its preclinical product candidates include MM-401, an agonistic antibody targeting a novel immuno-oncology target; and MM-201, a stabilized agonist-Fc fusion protein targeting death receptors 4 and 5.

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