Eric Andersen Purchases 50,170 Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Stock

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Director Eric Andersen acquired 50,170 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was purchased at an average price of $12.50 per share, with a total value of $627,125.00. Following the acquisition, the director now owns 1,658,981 shares of the company’s stock, valued at approximately $20,737,262.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Merrimack Pharmaceuticals Stock Up 0.1 %

Shares of NASDAQ MACK opened at $12.78 on Friday. The company has a 50 day simple moving average of $12.32 and a two-hundred day simple moving average of $12.29. Merrimack Pharmaceuticals, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $13.15.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Merrimack Pharmaceuticals in a research report on Thursday, October 5th. They issued a “sell” rating on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SNC purchased a new stake in shares of Merrimack Pharmaceuticals in the second quarter worth $34,000. Citigroup Inc. bought a new position in Merrimack Pharmaceuticals in the 2nd quarter worth about $38,000. UBS Group AG grew its position in Merrimack Pharmaceuticals by 303.6% during the 1st quarter. UBS Group AG now owns 3,128 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,353 shares during the last quarter. California State Teachers Retirement System bought a new stake in Merrimack Pharmaceuticals during the 2nd quarter valued at about $43,000. Finally, Wells Fargo & Company MN raised its holdings in Merrimack Pharmaceuticals by 2,515.3% in the second quarter. Wells Fargo & Company MN now owns 4,446 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 4,276 shares during the last quarter. Institutional investors own 55.90% of the company’s stock.

About Merrimack Pharmaceuticals

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