Merrimack Pharmaceuticals (NASDAQ:MACK) Stock Crosses Above 200-Day Moving Average of $3.20

Merrimack Pharmaceuticals Inc (NASDAQ:MACK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.20 and traded as high as $3.37. Merrimack Pharmaceuticals shares last traded at $3.32, with a volume of 8,665 shares trading hands.

The company’s 50 day moving average is $3.30 and its 200 day moving average is $3.20.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $0.02 EPS for the quarter.

In other news, Director Eric Andersen purchased 177,274 shares of the stock in a transaction dated Wednesday, July 22nd. The stock was acquired at an average cost of $3.11 per share, for a total transaction of $551,322.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary L. Crocker sold 117,963 shares of Merrimack Pharmaceuticals stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $3.08, for a total transaction of $363,326.04. The disclosure for this sale can be found here. Insiders own 21.60% of the company’s stock.

An institutional investor recently bought a new position in Merrimack Pharmaceuticals stock. Renaissance Technologies LLC bought a new stake in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 33,961 shares of the biopharmaceutical company’s stock, valued at approximately $107,000. Renaissance Technologies LLC owned 0.25% of Merrimack Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 48.30% of the company’s stock.

Merrimack Pharmaceuticals Company Profile (NASDAQ:MACK)

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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