Merrimack Pharmaceuticals (NASDAQ:MACK) Stock Price Crosses Above Two Hundred Day Moving Average of $12.28

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACKGet Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.28 and traded as high as $12.42. Merrimack Pharmaceuticals shares last traded at $12.41, with a volume of 30,225 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Merrimack Pharmaceuticals in a research report on Thursday, October 5th. They issued a “sell” rating on the stock.

View Our Latest Report on Merrimack Pharmaceuticals

Merrimack Pharmaceuticals Stock Performance

The firm’s 50-day simple moving average is $12.29 and its 200 day simple moving average is $12.28. The stock has a market capitalization of $177.71 million, a P/E ratio of -124.10 and a beta of 1.65.

Institutional Investors Weigh In On Merrimack Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Merrimack Pharmaceuticals by 3,928.1% during the 1st quarter. Barclays PLC now owns 5,438 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 5,303 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Merrimack Pharmaceuticals by 2,515.3% during the 2nd quarter. Wells Fargo & Company MN now owns 4,446 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 4,276 shares during the last quarter. California State Teachers Retirement System acquired a new position in shares of Merrimack Pharmaceuticals during the 2nd quarter worth about $43,000. Citigroup Inc. acquired a new position in shares of Merrimack Pharmaceuticals during the 2nd quarter worth about $38,000. Finally, UBS Group AG increased its stake in shares of Merrimack Pharmaceuticals by 303.6% during the 1st quarter. UBS Group AG now owns 3,128 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 2,353 shares during the last quarter. 55.90% of the stock is owned by institutional investors.

Merrimack Pharmaceuticals Company Profile

(Get Free Report)

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

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