Rhumbline Advisers boosted its stake in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,089 shares of the biopharmaceutical company’s stock after buying an additional 4,510 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Merrimack Pharmaceuticals worth $180,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MACK. Bank of New York Mellon Corp boosted its stake in Merrimack Pharmaceuticals by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock valued at $2,243,000 after buying an additional 13,664 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Merrimack Pharmaceuticals by 71.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 72,279 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 30,182 shares in the last quarter. American International Group Inc. boosted its stake in Merrimack Pharmaceuticals by 7.1% in the 1st quarter. American International Group Inc. now owns 75,158 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 4,975 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in Merrimack Pharmaceuticals in the 1st quarter valued at $357,000. Finally, Vanguard Group Inc. boosted its stake in Merrimack Pharmaceuticals by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 10,265,752 shares of the biopharmaceutical company’s stock valued at $31,618,000 after buying an additional 1,070,816 shares in the last quarter.

Several brokerages recently commented on MACK. Zacks Investment Research raised Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Robert W. Baird reaffirmed a “hold” rating and issued a $15.00 price target on shares of Merrimack Pharmaceuticals in a research note on Friday. Finally, ValuEngine lowered Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.53.

Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) opened at 13.42 on Tuesday. The firm has a market cap of $178.20 million, a price-to-earnings ratio of 0.42 and a beta of 1.98. The company has a 50-day moving average price of $13.99 and a 200 day moving average price of $19.42. Merrimack Pharmaceuticals, Inc. has a 52 week low of $11.30 and a 52 week high of $67.90.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.37) by ($0.81). During the same period in the previous year, the company posted ($4.00) earnings per share. Analysts expect that Merrimack Pharmaceuticals, Inc. will post $33.49 EPS for the current fiscal year.

In other news, Director Ulrik B. Nielsen sold 21,556 shares of Merrimack Pharmaceuticals stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $14.40, for a total value of $310,406.40. Following the transaction, the director now owns 37,437 shares in the company, valued at approximately $539,092.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ulrik B. Nielsen sold 14,756 shares of Merrimack Pharmaceuticals stock in a transaction on Monday, September 11th. The shares were sold at an average price of $14.46, for a total value of $213,371.76. Following the completion of the transaction, the director now owns 37,437 shares in the company, valued at approximately $541,339.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,308 shares of company stock worth $637,558. Corporate insiders own 8.53% of the company’s stock.

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Merrimack Pharmaceuticals Company Profile

Merrimack Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

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Institutional Ownership by Quarter for Merrimack Pharmaceuticals (NASDAQ:MACK)

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