Engineers Gate Manager LP purchased a new stake in shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 90,920 shares of the biopharmaceutical company’s stock, valued at approximately $113,000. Engineers Gate Manager LP owned about 0.07% of Merrimack Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Merrimack Pharmaceuticals by 4.4% during the 1st quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock valued at $3,079,000 after acquiring an additional 42,194 shares during the last quarter. Yakira Capital Management Inc. bought a new stake in shares of Merrimack Pharmaceuticals during the 1st quarter valued at about $765,000. Airain ltd bought a new stake in shares of Merrimack Pharmaceuticals during the 1st quarter valued at about $281,000. Schwab Charles Investment Management Inc. boosted its position in shares of Merrimack Pharmaceuticals by 5.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 438,888 shares of the biopharmaceutical company’s stock valued at $1,352,000 after acquiring an additional 22,401 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Merrimack Pharmaceuticals by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock valued at $2,243,000 after acquiring an additional 13,664 shares during the last quarter.

Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) opened at 14.52 on Wednesday. The company has a market cap of $192.81 million, a P/E ratio of 0.45 and a beta of 2.02. The company has a 50-day moving average price of $13.05 and a 200-day moving average price of $21.61. Merrimack Pharmaceuticals, Inc. has a 52-week low of $11.30 and a 52-week high of $67.90.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.81). During the same quarter in the prior year, the company earned ($4.00) earnings per share. On average, equities analysts predict that Merrimack Pharmaceuticals, Inc. will post $33.43 EPS for the current year.

MACK has been the subject of a number of research analyst reports. ValuEngine upgraded Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Zacks Investment Research upgraded Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. Merrimack Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $70.90.

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In related news, Director Ulrik B. Nielsen sold 21,556 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $14.40, for a total transaction of $310,406.40. Following the completion of the transaction, the director now directly owns 37,437 shares of the company’s stock, valued at $539,092.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ulrik B. Nielsen sold 14,756 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.46, for a total value of $213,371.76. Following the transaction, the director now directly owns 37,437 shares of the company’s stock, valued at $541,339.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,308 shares of company stock valued at $637,558. 8.53% of the stock is owned by corporate insiders.

Merrimack Pharmaceuticals Company Profile

Merrimack Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

Institutional Ownership by Quarter for Merrimack Pharmaceuticals (NASDAQ:MACK)

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