Merrimack Pharmaceuticals (MACK) Shares are Down -6.25%

Merrimack Pharmaceuticals (MACK) : During the past 4 weeks, traders have been relatively bearish on Merrimack Pharmaceuticals (MACK), hence the stock is down -4.79% 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 -6.3% relative to the S&P 500. The 4-week change in the price of the stock is -3.81% and the stock has fallen -6.25% in the past 1 week.

The stock has recorded a 20-day Moving Average of 5.87% and the 50-Day Moving Average is 11.1%. Merrimack Pharmaceuticals (NASDAQ:MACK): stock turned positive on Friday. Though the stock opened at $5.16, the bulls momentum made the stock top out at $5.275 level for the day. The stock recorded a low of $5.06 and closed the trading day at $5.175, in the green by 0.29%. The total traded volume for the day was 1,321,527. The stock had closed at $5.16 in the previous days trading.


The company Insiders own 11.49% of Merrimack Pharmaceuticals shares according to the proxy statements. Institutional Investors own 65.24% of Merrimack Pharmaceuticals shares. During last six month period, the net percent change held by insiders has seen a change of 12.41%. Also, In the latest statement by the brokerage house, JP Morgan maintains its outlook on Merrimack Pharmaceuticals (NASDAQ:MACK). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm lowers the price target from $9 per share to $8 per share. The rating by the firm was issued on August 5, 2016.

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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