Simplex Trading buys $406,156 stake in Merrimack Pharmaceuticals Inc (MACK)

Merrimack Pharmaceuticals Inc (MACK) : Simplex Trading scooped up 67,280 additional shares in Merrimack Pharmaceuticals Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 74,116 shares of Merrimack Pharmaceuticals Inc which is valued at $406,156.Merrimack Pharmaceuticals Inc makes up approximately 0.05% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in MACK in the latest quarter, The investment management firm added 5,421 additional shares and now holds a total of 10,161 shares of Merrimack Pharmaceuticals Inc which is valued at $60,560.

Merrimack Pharmaceuticals Inc closed down -0.5 points or -8.36% at $5.48 with 51,48,851 shares getting traded on Friday. Post opening the session at $5.74, the shares hit an intraday low of $5.44 and an intraday high of $5.93 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Merrimack Pharmaceuticals Inc reported $-0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.36. The company had revenue of $33.68 million for the quarter, compared to analysts expectations of $30.98 million. The company’s revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.33 EPS.

Many Wall Street Analysts have commented on Merrimack Pharmaceuticals Inc. Merrimack Pharmaceuticals Inc was Downgraded by JP Morgan to ” Neutral” on Oct 7, 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 Company’s 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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