Large Inflow of Money Witnessed in Merrimack Pharmaceuticals

Merrimack Pharmaceuticals (NASDAQ:MACK) : On Wednesday, The money flowed into the Merrimack Pharmaceuticals (NASDAQ:MACK) stock with an uptick to downtick ratio was recorded at 1.53. Transactions worth $0.76 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $0.5 million. The total money flow into the stock was $0.26 million. The block trades reveal a bullish bias with an up-down ratio of 0.7. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $0.06 million of block transactions on upticks. The value of block trades on downticks was $0.08 million, indicating lower selling interest. The total money flow in block trades was $-0.02 million. In terms of price action, Merrimack Pharmaceuticals (NASDAQ:MACK) traded down $0.01 during the session at $5.52. Compared to the previous days closing, the stock was down only by -0.18%. For the week, the stock is -3.33%, over previous weeks closing.


In an insider trading activity, Porter Michael E, director of Merrimack Pharmaceuticals Inc had purchased 5,000 shares on March 17, 2016 in a transaction. The price per share was $7.2 and the total amount of the disclosed transaction was $36,000.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices. Currently the company Insiders own 11.49% of Merrimack Pharmaceuticals shares according to the proxy statements. Institutional Investors own 65.91% of Merrimack Pharmaceuticals shares. During last six month period, the net percent change held by insiders has seen a change of 12.41%.

The company shares have dropped -54.30% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $12.59 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $6.43 and the 200 Day Moving Average price is recorded at $6.92. Merrimack Pharmaceuticals (NASDAQ:MACK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.65 and $5.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.62, notching a gain of 1.63% for the day. The total traded volume was 1,736,364 . The stock had closed at $5.53 on the previous day.

Merrimack Pharmaceuticals, Inc. is a biopharmaceutical company discovering, developing and preparing to commercialize medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has six targeted therapeutic oncology candidates in clinical development (MM-398, MM-302, MM-121, MM-111, MM-151 and MM-141). The Companys most advanced program is its investigational agent MM-398. The Company also has multiple product candidates in preclinical development and a discovery effort advancing additional candidate medicines. The Company has an agreement to utilize its manufacturing know-how to develop, manufacture and exclusively supply bulk drug to a third party, who processes the drug into a finished product and commercializes it globally. The Company is also developing in vitro and in vivo companion diagnostics for use with each of its oncology therapeutic product candidates.

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