Merrimack Pharmaceuticals (NASDAQ:MACK) Stock Crosses Above 200 Day Moving Average of $13.50

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.50 and traded as high as $14.73. Merrimack Pharmaceuticals shares last traded at $14.72, with a volume of 76,084 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st.

Merrimack Pharmaceuticals Price Performance

The business has a fifty day moving average of $14.70 and a 200-day moving average of $13.51.

Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Merrimack Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC boosted its stake in Merrimack Pharmaceuticals by 2.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 93,708 shares of the biopharmaceutical company’s stock valued at $1,155,000 after purchasing an additional 2,202 shares in the last quarter. Wittenberg Investment Management Inc. lifted its position in shares of Merrimack Pharmaceuticals by 2.3% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 209,739 shares of the biopharmaceutical company’s stock valued at $2,586,000 after acquiring an additional 4,745 shares during the last quarter. Sepio Capital LP lifted its position in shares of Merrimack Pharmaceuticals by 4.1% during the 3rd quarter. Sepio Capital LP now owns 306,680 shares of the biopharmaceutical company’s stock valued at $3,781,000 after acquiring an additional 12,135 shares during the last quarter. Barclays PLC lifted its position in shares of Merrimack Pharmaceuticals by 3,928.1% during the 1st quarter. Barclays PLC now owns 5,438 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 5,303 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Merrimack Pharmaceuticals by 2,515.3% during the 2nd quarter. Wells Fargo & Company MN now owns 4,446 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 4,276 shares during the last quarter. 63.97% of the stock is owned by institutional investors.

About Merrimack Pharmaceuticals

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