11,827 Shares in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC acquired a new position in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,827 shares of the biopharmaceutical company’s stock, valued at approximately $159,000. Allspring Global Investments Holdings LLC owned about 0.08% of Merrimack Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kennedy Capital Management LLC boosted 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 purchasing an additional 2,202 shares during the last quarter. Wittenberg Investment Management Inc. boosted its position in Merrimack Pharmaceuticals by 2.3% during the third quarter. Wittenberg Investment Management Inc. now owns 209,739 shares of the biopharmaceutical company’s stock valued at $2,586,000 after acquiring an additional 4,745 shares during the last quarter. Finally, Sepio Capital LP grew its holdings in Merrimack Pharmaceuticals by 4.1% during the 3rd quarter. Sepio Capital LP now owns 306,680 shares of the biopharmaceutical company’s stock worth $3,781,000 after acquiring an additional 12,135 shares during the period. 63.97% of the stock is currently owned by institutional investors and hedge funds.

Merrimack Pharmaceuticals Stock Performance

MACK opened at $14.73 on Monday. The company has a market cap of $214.06 million, a price-to-earnings ratio of -184.13 and a beta of 1.43. The company’s fifty day moving average price is $14.71 and its two-hundred day moving average price is $13.60. Merrimack Pharmaceuticals, Inc. has a 1-year low of $11.53 and a 1-year high of $15.89.

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

Analyst Ratings Changes

Separately, StockNews.com upgraded 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.