Merrimack Pharmaceuticals (NASDAQ:MACK) Stock Passes Above 200-Day Moving Average of $13.75

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.75 and traded as high as $15.11. Merrimack Pharmaceuticals shares last traded at $15.07, with a volume of 1,062,536 shares trading hands.

Wall Street Analysts Forecast Growth

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

Merrimack Pharmaceuticals Stock Up 0.3 %

The firm has a market cap of $219.00 million, a P/E ratio of -188.38 and a beta of 1.45. The firm’s 50-day simple moving average is $14.76 and its 200 day simple moving average is $13.75.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ADAR1 Capital Management LLC purchased a new stake in Merrimack Pharmaceuticals in the 4th quarter worth about $7,368,000. Sepio Capital LP boosted its position in 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 purchasing an additional 12,135 shares during the period. Wittenberg Investment Management Inc. boosted its position in Merrimack Pharmaceuticals by 2.3% during the third quarter. Wittenberg Investment Management Inc. now owns 209,739 shares of the biopharmaceutical company’s stock worth $2,586,000 after purchasing an additional 4,745 shares during the period. Kennedy Capital Management LLC increased its stake in shares of Merrimack Pharmaceuticals by 2.4% in the third 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. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Merrimack Pharmaceuticals in the fourth quarter valued at approximately $159,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.

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.