Jfl Capital Management, Llc Acquires 50,288 Shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) Stock

Merrimack Pharmaceuticals Inc (NASDAQ:MACK) insider Jfl Capital Management, Llc purchased 50,288 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was bought at an average price of $5.92 per share, for a total transaction of $297,704.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Jfl Capital Management, Llc also recently made the following trade(s):

  • On Friday, June 28th, Jfl Capital Management, Llc acquired 23,564 shares of Merrimack Pharmaceuticals stock. The stock was acquired at an average cost of $5.95 per share, with a total value of $140,205.80.
  • On Monday, April 8th, Jfl Capital Management, Llc acquired 37,278 shares of Merrimack Pharmaceuticals stock. The stock was acquired at an average cost of $5.89 per share, with a total value of $219,567.42.

MACK stock opened at $5.79 on Thursday. The firm’s 50-day moving average price is $5.89. Merrimack Pharmaceuticals Inc has a one year low of $3.34 and a one year high of $7.50. The company has a quick ratio of 5.39, a current ratio of 5.39 and a debt-to-equity ratio of 0.28.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.78) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.14.

Separately, ValuEngine raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

Hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP lifted its position in shares of Merrimack Pharmaceuticals by 28.7% during the fourth quarter. Two Sigma Investments LP now owns 72,877 shares of the biopharmaceutical company’s stock valued at $281,000 after buying an additional 16,254 shares during the last quarter. BlackRock Inc. raised its position in shares of Merrimack Pharmaceuticals by 0.8% in the 4th quarter. BlackRock Inc. now owns 256,175 shares of the biopharmaceutical company’s stock valued at $989,000 after purchasing an additional 1,957 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Merrimack Pharmaceuticals by 78.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 55,124 shares of the biopharmaceutical company’s stock valued at $213,000 after purchasing an additional 24,173 shares during the last quarter. Northern Trust Corp raised its position in shares of Merrimack Pharmaceuticals by 20.5% in the 4th quarter. Northern Trust Corp now owns 60,417 shares of the biopharmaceutical company’s stock valued at $233,000 after purchasing an additional 10,263 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Merrimack Pharmaceuticals in the 4th quarter valued at approximately $70,000. 40.71% of the stock is owned by institutional investors and hedge funds.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company that targets biomarker-defined cancers. The company is developing MM-310, an antibody-directed nanotherapeutic, which is in Phase I clinical trial to treat patients with solid tumors. Its preclinical product candidates include MM-401, an agonistic antibody targeting a novel immuno-oncology target; and MM-201, a stabilized agonist-Fc fusion protein targeting death receptors 4 and 5.

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