Merrimack Pharmaceuticals (NASDAQ:MACK) Releases Quarterly Earnings Results

Merrimack Pharmaceuticals (NASDAQ:MACK) issued its earnings results on Wednesday, July 17th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, reports.

MACK traded up $0.08 during midday trading on Friday, hitting $6.78. The stock had a trading volume of 35,792 shares, compared to its average volume of 96,042. The company’s fifty day moving average is $5.90. Merrimack Pharmaceuticals has a 1 year low of $3.34 and a 1 year high of $7.50.

Separately, ValuEngine raised Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, June 26th.

In related news, insider Jfl Capital Management, Llc acquired 50,288 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was purchased at an average price of $5.92 per share, with a total value of $297,704.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 74,254 shares of company stock valued at $440,125. 9.47% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its stake in shares of Merrimack Pharmaceuticals by 28.7% during the fourth quarter. Two Sigma Investments LP now owns 72,877 shares of the biopharmaceutical company’s stock valued at $281,000 after purchasing an additional 16,254 shares during the period. BlackRock Inc. boosted its stake in shares of Merrimack Pharmaceuticals by 0.8% during the fourth quarter. BlackRock Inc. now owns 256,175 shares of the biopharmaceutical company’s stock valued at $989,000 after purchasing an additional 1,957 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Merrimack Pharmaceuticals by 78.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 55,124 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 24,173 shares during the period. Northern Trust Corp boosted its stake in shares of Merrimack Pharmaceuticals by 20.5% during the fourth quarter. Northern Trust Corp now owns 60,417 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 10,263 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter valued at approximately $70,000. 40.50% of the stock is owned by hedge funds and other institutional investors.

Merrimack Pharmaceuticals Company Profile

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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Earnings History for Merrimack Pharmaceuticals (NASDAQ:MACK)

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