Merrimack Pharmaceuticals Inc (MACK) Position Boosted by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd increased its holdings in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) by 122.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 22,731 shares of the biopharmaceutical company’s stock after purchasing an additional 12,534 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Merrimack Pharmaceuticals were worth $112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MACK. Dimensional Fund Advisors LP grew its holdings in Merrimack Pharmaceuticals by 83.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 369,982 shares of the biopharmaceutical company’s stock worth $2,978,000 after buying an additional 168,657 shares in the last quarter. Wittenberg Investment Management Inc. boosted its stake in Merrimack Pharmaceuticals by 105.8% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 253,752 shares of the biopharmaceutical company’s stock valued at $1,246,000 after purchasing an additional 130,441 shares in the last quarter. Rubric Capital Management LP boosted its stake in Merrimack Pharmaceuticals by 16.1% during the 1st quarter. Rubric Capital Management LP now owns 476,164 shares of the biopharmaceutical company’s stock valued at $3,833,000 after purchasing an additional 65,920 shares in the last quarter. Spark Investment Management LLC boosted its stake in Merrimack Pharmaceuticals by 448.6% during the 1st quarter. Spark Investment Management LLC now owns 58,700 shares of the biopharmaceutical company’s stock valued at $472,000 after purchasing an additional 48,000 shares in the last quarter. Finally, LMR Partners LLP bought a new position in Merrimack Pharmaceuticals during the 2nd quarter valued at $211,000. 47.55% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ MACK opened at $5.31 on Thursday. The firm has a market cap of $70.18 million, a price-to-earnings ratio of -0.94 and a beta of 2.17. Merrimack Pharmaceuticals Inc has a 1 year low of $4.71 and a 1 year high of $15.39.

Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.05). equities research analysts predict that Merrimack Pharmaceuticals Inc will post -3.62 earnings per share for the current year.

A number of brokerages have issued reports on MACK. ValuEngine raised Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Robert W. Baird decreased their price target on Merrimack Pharmaceuticals from $12.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, June 26th. Finally, JPMorgan Chase & Co. lowered Merrimack Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Monday, June 25th.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on biomarker-defined cancers in the United States. The company's clinical programs include MM-121, which is in Phase II clinical trial for the treatment of patients with heregulin positive non-small cell lung cancer; and MM-141, a human tetravalent bispecific antibody that is in Phase II clinical trial for treating patients with metastatic pancreatic cancer with high serum levels of free insulin-like growth factor 1.

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

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