Merrimack Pharmaceuticals, Inc. (MACK) Holdings Cut by State of Wisconsin Investment Board

State of Wisconsin Investment Board lowered its holdings in shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) by 90.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,799 shares of the biopharmaceutical company’s stock after selling 97,201 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.08% of Merrimack Pharmaceuticals worth $157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Merrimack Pharmaceuticals by 4.4% during the first quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock worth $3,079,000 after purchasing an additional 42,194 shares in the last quarter. Alliancebernstein L.P. boosted its position in Merrimack Pharmaceuticals by 108.1% during the second quarter. Alliancebernstein L.P. now owns 217,900 shares of the biopharmaceutical company’s stock worth $270,000 after purchasing an additional 113,200 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Merrimack Pharmaceuticals by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 438,888 shares of the biopharmaceutical company’s stock worth $1,352,000 after purchasing an additional 22,401 shares in the last quarter. American International Group Inc. boosted its position in Merrimack Pharmaceuticals by 7.1% during the first quarter. American International Group Inc. now owns 75,158 shares of the biopharmaceutical company’s stock worth $231,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Merrimack Pharmaceuticals by 3.2% during the second quarter. Rhumbline Advisers now owns 145,089 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 4,510 shares in the last quarter.

Merrimack Pharmaceuticals, Inc. (NASDAQ MACK) opened at $12.23 on Friday. Merrimack Pharmaceuticals, Inc. has a fifty-two week low of $11.14 and a fifty-two week high of $64.50. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.45.

A number of equities analysts have issued reports on the company. Robert W. Baird reiterated a “hold” rating and set a $15.00 price target on shares of Merrimack Pharmaceuticals in a research report on Friday, October 13th. ValuEngine downgraded Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research downgraded Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company. Merrimack Pharmaceuticals has a consensus rating of “Hold” and an average target price of $61.80.

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In other Merrimack Pharmaceuticals news, Director Ulrik B. Nielsen sold 7,896 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $14.23, for a total transaction of $112,360.08. Following the completion of the transaction, the director now owns 22,781 shares of the company’s stock, valued at $324,173.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ulrik B. Nielsen sold 14,756 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.46, for a total value of $213,371.76. Following the transaction, the director now directly owns 37,437 shares of the company’s stock, valued at approximately $541,339.02. The disclosure for this sale can be found here. Insiders have sold 44,308 shares of company stock valued at $637,558 in the last three months. Insiders own 8.53% of the company’s stock.

Merrimack Pharmaceuticals Company Profile

Merrimack Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

Institutional Ownership by Quarter for Merrimack Pharmaceuticals (NASDAQ:MACK)

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