Merrimack Pharmaceuticals (NASDAQ:MACK) has shown a rise of 5.3% or 1,073,438 shares in the short positions. The bets have increased to 21,469,056 shares on June 15,2016 from 20,395,618 shares on May 31,2016. With respect to the floated shares, the shorts are 18.4%. The days to cover are calculated to be 17, using the standard per day volume of 1,265,137 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Merrimack Pharmaceuticals (NASDAQ:MACK): The stock opened at $5.90 on Friday but the bulls could not build on the opening and the stock topped out at $6.03 for the day. The stock traded down to $5.70 during the day, due to lack of any buying support eventually closed down at $5.71 with a loss of -6.70% for the day. The stock had closed at $6.12 on the previous day. The total traded volume was 3,279,081 shares.
The company shares have dropped -52.02% 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 $6.50 and the 200 Day Moving Average price is recorded at $6.98.
Merrimack Pharmaceuticals (NASDAQ:MACK) has tumbled 7% during the past week and has dropped 9.51% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.46%. Merrimack Pharmaceuticals (NASDAQ:MACK) has underperformed the index by 6.77% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.