Shares of Merrimack Pharmaceuticals (MACK) Drops by -4.27%

Merrimack Pharmaceuticals (MACK) : During the past 4 weeks, traders have been relatively bearish on Merrimack Pharmaceuticals (MACK), hence the stock is down -16.05% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -5.68% relative to the S&P 500. The 4-week change in the price of the stock is -12.38% and the stock has fallen -4.27% in the past 1 week. The stock has recorded a 20-day Moving Average of 6.17% and the 50-Day Moving Average is 13.74%.

Merrimack Pharmaceuticals (NASDAQ:MACK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.15 and $5.11 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.38, notching a gain of 5.08% for the day. The total traded volume was 1,619,365 . The stock had closed at $5.12 on the previous day.


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%. In a related news, Porter Michael E, director of Merrimack Pharmaceuticals Inc, had purchased 5,000 shares on March 17, 2016. The total value of the transaction was $36,000. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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