D. E. Shaw & Co. Inc. raised its position in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) by 78.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,124 shares of the biopharmaceutical company’s stock after acquiring an additional 24,173 shares during the period. D. E. Shaw & Co. Inc. owned about 0.41% of Merrimack Pharmaceuticals worth $213,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Merrimack Pharmaceuticals by 54,994.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 55,094 shares of the biopharmaceutical company’s stock valued at $294,000 after acquiring an additional 54,994 shares in the last quarter. Two Sigma Investments LP raised its holdings in Merrimack Pharmaceuticals by 28.7% in the 4th quarter. Two Sigma Investments LP now owns 72,877 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 16,254 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Merrimack Pharmaceuticals by 22.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 573,514 shares of the biopharmaceutical company’s stock valued at $3,057,000 after acquiring an additional 105,137 shares in the last quarter. 22NW LP acquired a new position in Merrimack Pharmaceuticals in the 4th quarter valued at approximately $2,892,000. Finally, Bank of New York Mellon Corp acquired a new position in Merrimack Pharmaceuticals in the 4th quarter valued at approximately $70,000. 46.20% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Lp 22Nw bought 50,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was acquired at an average cost of $6.12 per share, with a total value of $306,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jfl Capital Management, Llc bought 37,278 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was bought at an average cost of $5.89 per share, with a total value of $219,567.42. The disclosure for this purchase can be found here. Corporate insiders own 9.47% of the company’s stock.
Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its earnings results on Wednesday, March 6th. The biopharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.01) by $0.04.
Separately, ValuEngine raised Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $4.38.
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About Merrimack Pharmaceuticals
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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