Allspring Global Investments Holdings LLC Purchases Shares of 11,827 Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)

Allspring Global Investments Holdings LLC purchased a new position in shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) during the fourth quarter, Holdings Channel.com reports. The fund purchased 11,827 shares of the biopharmaceutical company’s stock, valued at approximately $159,000.

Several other hedge funds have also recently modified their holdings of the stock. Kennedy Capital Management LLC boosted its stake in Merrimack Pharmaceuticals by 2.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 93,708 shares of the biopharmaceutical company’s stock worth $1,155,000 after purchasing an additional 2,202 shares in the last quarter. Wittenberg Investment Management Inc. raised its holdings in shares of Merrimack Pharmaceuticals by 2.3% in the third quarter. Wittenberg Investment Management Inc. now owns 209,739 shares of the biopharmaceutical company’s stock worth $2,586,000 after buying an additional 4,745 shares during the last quarter. Finally, Sepio Capital LP lifted its stake in shares of Merrimack Pharmaceuticals by 4.1% during the third quarter. Sepio Capital LP now owns 306,680 shares of the biopharmaceutical company’s stock worth $3,781,000 after buying an additional 12,135 shares during the period. Institutional investors and hedge funds own 63.97% of the company’s stock.

Merrimack Pharmaceuticals Price Performance

Shares of NASDAQ:MACK opened at $14.73 on Monday. Merrimack Pharmaceuticals, Inc. has a 52-week low of $11.53 and a 52-week high of $15.89. The stock has a market cap of $214.06 million, a price-to-earnings ratio of -184.13 and a beta of 1.43. The business has a 50-day moving average price of $14.71 and a 200-day moving average price of $13.60.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter.

Analyst Ratings Changes

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

Merrimack Pharmaceuticals Company Profile

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