StockNews.com Begins Coverage on Merrimack Pharmaceuticals (NASDAQ:MACK)

StockNews.com began coverage on shares of Merrimack Pharmaceuticals (NASDAQ:MACKGet Rating) in a research report released on Monday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Merrimack Pharmaceuticals Price Performance

Merrimack Pharmaceuticals stock opened at $11.90 on Monday. The stock has a market capitalization of $159.58 million, a price-to-earnings ratio of -108.18 and a beta of 1.32. Merrimack Pharmaceuticals has a 1-year low of $3.00 and a 1-year high of $13.66. The business has a fifty day moving average price of $5.79 and a 200-day moving average price of $5.30.

Institutional Trading of Merrimack Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in Merrimack Pharmaceuticals during the 2nd quarter worth about $84,000. Yakira Capital Management Inc. raised its stake in shares of Merrimack Pharmaceuticals by 20.7% during the 1st quarter. Yakira Capital Management Inc. now owns 88,683 shares of the biopharmaceutical company’s stock valued at $561,000 after buying an additional 15,233 shares during the last quarter. Sepio Capital LP raised its stake in shares of Merrimack Pharmaceuticals by 276.2% during the 1st quarter. Sepio Capital LP now owns 296,546 shares of the biopharmaceutical company’s stock valued at $1,876,000 after buying an additional 217,717 shares during the last quarter. Bronte Capital Management Pty Ltd. raised its stake in shares of Merrimack Pharmaceuticals by 7.6% during the 1st quarter. Bronte Capital Management Pty Ltd. now owns 578,313 shares of the biopharmaceutical company’s stock valued at $3,658,000 after buying an additional 40,729 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Merrimack Pharmaceuticals by 228.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,100,994 shares of the biopharmaceutical company’s stock valued at $4,129,000 after purchasing an additional 765,886 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

Merrimack Pharmaceuticals Company Profile

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

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