Strs Ohio Purchases New Stake in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)

Strs Ohio bought a new stake in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,300 shares of the biopharmaceutical company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kennedy Capital Management LLC grew its stake in shares of Merrimack Pharmaceuticals by 2.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 93,708 shares of the biopharmaceutical company’s stock valued at $1,155,000 after buying an additional 2,202 shares during the period. Wittenberg Investment Management Inc. grew its holdings in shares of Merrimack Pharmaceuticals by 2.3% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 209,739 shares of the biopharmaceutical company’s stock worth $2,586,000 after purchasing an additional 4,745 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Merrimack Pharmaceuticals in the 4th quarter valued at about $159,000. Finally, Sepio Capital LP lifted its position in Merrimack Pharmaceuticals by 4.1% in the third quarter. Sepio Capital LP now owns 306,680 shares of the biopharmaceutical company’s stock valued at $3,781,000 after buying an additional 12,135 shares during the last quarter. Institutional investors and hedge funds own 63.97% of the company’s stock.

Merrimack Pharmaceuticals Trading Up 1.6 %

MACK stock opened at $14.98 on Thursday. The business’s fifty day moving average price is $14.71 and its 200 day moving average price is $13.63. Merrimack Pharmaceuticals, Inc. has a 12-month low of $11.53 and a 12-month high of $15.89. The company has a market capitalization of $217.66 million, a PE ratio of -187.25 and a beta of 1.43.

Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st.

Merrimack Pharmaceuticals Company Profile

Merrimack Pharmaceuticals, Inc operates as a biopharmaceutical company in the United States. The company was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.