The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Merrimack Pharmaceuticals Inc. shares valued at $5,372 were purchased by Levy Noah G. on Jun 17. At $5.97 per share, Levy Noah G. acquired 900 shares. The insider’s holdings grew to 1,012,986 shares worth approximately $6.07 million following the completion of this transaction.
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Also, Levy Noah G. purchased 520 shares, netting a total of over 2,833 in proceeds. Following the buying of shares at $5.45 each, the insider now holds 1,012,471 shares.
Before that, Levy Noah G. had added 2,900 shares to its account. In a trade valued at $15,561, the Director bought Merrimack Pharmaceuticals Inc. shares for $5.37 each. Upon closing the transaction, the insider’s holdings increased to 2,900 shares, worth approximately $6.06 million.
As published in a research note from JP Morgan on October 07, 2016, Merrimack Pharmaceuticals Inc. [MACK] has been rated down from an Overweight to a Neutral. Analysts at Robert W. Baird started covering the stock with ‘”a Neutral”‘ outlook in a report released in late May. As of December 23, 2015, Mizuho has reiterated its “Buy” rating for MACK. Earlier on October 27, 2015, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for MACK stock.
Analyzing MACK’s Price Performance
On Wednesday, Merrimack Pharmaceuticals Inc. [NASDAQ: MACK] plunged -4.01% to $5.99. The stock’s lowest price that day was $5.84, but it reached a high of $6.26 in the same session. During the last five days, there has been a surge of approximately 19.32%. Over the course of the year, Merrimack Pharmaceuticals Inc. shares have jumped approximately 53.20%. Shares of the company reached a 52-week high of $7.41 on 04/07/22 and a 52-week low of $3.66 on 01/05/22. A 50-day SMA is recorded $5.50, while a 200-day SMA reached $5.11. Nevertheless, trading volume fell to 7835.0 shares from 33000.0 shares the previous day.
Support And Resistance Levels for Merrimack Pharmaceuticals Inc. (MACK)
According to the 24-hour chart, there is a support level at 5.80, which, if violated, would cause prices to drop to 5.61. In the upper region, resistance lies at 6.22. The next price resistance is at 6.45. RSI (Relative Strength Index) is 59.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.74, which suggests the price will decrease in the coming days. Percent R is at 26.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Which companies own the most shares of Merrimack Pharmaceuticals Inc. (MACK)?
According to Newtyn Management LLC filings, the company currently owns 1,753,535 shares, which is about 13.08% of the total MACK shares outstanding. The investor’s shares have appreciated by 39,923 from its previous 13-F filing of 1713612.0 shares. With the completion of the sale, 22NW LP’s stake is now worth $6,433,021. Western Standard LLC reduced a 0.00% interest valued at $6.07 million while The Vanguard Group, Inc. sold a -8,644 stake. A total of 40,729 shares of Merrimack Pharmaceuticals Inc. were sold by Bronte Capital Management Pty Ltd during the quarter, and -53,154 were sold by Nantahala Capital Management LLC. In its current portfolio, Dimensional Fund Advisors LP holds 482,484 shares valued at $2.5 million.
In terms of Merrimack Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $4.00 in the next 12 months, down nearly -35.9% from the previous closing price of $6.24. Analysts anticipate Merrimack Pharmaceuticals Inc. stock to reach $4.00 by 2022, with the lowest price target being $4.00. In spite of this, 2 analysts ranked Merrimack Pharmaceuticals Inc. stock as an Underweight at the end of 2022. On April 21, 2015, Mizuho assigned a price target of “a Buy” to the stock and reiterated coverage with a $16.