Campbell & CO Investment Adviser LLC purchased a new stake in shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 24,682 shares of the biopharmaceutical company’s stock, valued at approximately $111,000. Campbell & CO Investment Adviser LLC owned approximately 0.18% of Merrimack Pharmaceuticals at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its position in Merrimack Pharmaceuticals by 41.7% in the second quarter. Jacobs Levy Equity Management Inc. now owns 34,439 shares of the biopharmaceutical company’s stock worth $208,000 after acquiring an additional 10,139 shares in the last quarter. Citadel Advisors LLC purchased a new position in Merrimack Pharmaceuticals in the second quarter worth $82,000. Vanguard Group Inc. grew its position in Merrimack Pharmaceuticals by 67.6% in the second quarter. Vanguard Group Inc. now owns 377,010 shares of the biopharmaceutical company’s stock worth $2,281,000 after acquiring an additional 152,080 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in Merrimack Pharmaceuticals in the second quarter worth $2,867,000. Hedge funds and other institutional investors own 48.28% of the company’s stock.
Separately, ValuEngine upgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, September 30th.
Merrimack Pharmaceuticals 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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