Merrimack Pharmaceuticals (NASDAQ:MACK) Share Price Crosses Above 200 Day Moving Average of $3.20

Shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.20 and traded as high as $3.37. Merrimack Pharmaceuticals shares last traded at $3.32, with a volume of 8,665 shares trading hands.

The firm has a 50-day moving average of $3.30 and a 200-day moving average of $3.20.

Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter.

In other news, insider Gary L. Crocker sold 117,963 shares of Merrimack Pharmaceuticals stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $3.08, for a total transaction of $363,326.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Andersen purchased 177,274 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The shares were bought at an average cost of $3.11 per share, with a total value of $551,322.14. The disclosure for this purchase can be found here. 21.60% of the stock is currently owned by company insiders.

An institutional investor recently bought a new position in Merrimack Pharmaceuticals stock. Renaissance Technologies LLC bought a new position in shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,961 shares of the biopharmaceutical company’s stock, valued at approximately $107,000. Renaissance Technologies LLC owned approximately 0.25% of Merrimack Pharmaceuticals as of its most recent SEC filing. 48.30% of the stock is currently owned by institutional investors and hedge funds.

About Merrimack Pharmaceuticals (NASDAQ:MACK)

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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