Merrimack Pharmaceuticals (MACK) has been under a strong bear grip, hence the stock is down -9.77% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.61% in the past 1 week. The stock has risen by 2.23% in the past week indicating that the buyers are active at lower levels, but the stock is down -3.68% in the past 4 weeks.
Merrimack Pharmaceuticals (NASDAQ:MACK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.40 and $5.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.50, notching a gain of 2.61% for the day. The total traded volume was 1,743,305 . The stock had closed at $5.36 on the previous day.
The stock has recorded a 20-day Moving Average of 0.1% and the 50-Day Moving Average is 10.03%. Merrimack Pharmaceuticals, Inc. has dropped 27.34% during the last 3-month period . Year-to-Date the stock performance stands at -30.38%.
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.