Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Merrimack Pharmaceuticals Inc shares valued at $11,441 were purchased by Andersen Eric on Dec 28 ’23. At $13.35 per share, Andersen Eric acquired 857 shares. The insider’s holdings grew to 534,008 shares worth approximately $8.0 million following the completion of this transaction.
Also, Andersen Eric purchased 48,693 shares, netting a total of over 640,313 in proceeds. Following the buying of shares at $13.15 each, the insider now holds 533,151 shares.
Before that, Andersen Eric had added 101,050 shares to its account. In a trade valued at $1,298,472, the Director bought Merrimack Pharmaceuticals Inc shares for $12.85 each. Upon closing the transaction, the insider’s holdings increased to 101,050 shares, worth approximately $26.0 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 Stock Performance
During the last five days, there has been a surge of approximately 1.84%. Over the course of the year, Merrimack Pharmaceuticals Inc shares have jumped approximately 11.71%. Shares of the company reached a 52-week high of $15.89 on 02/13/24 and a 52-week low of $12.94 on 02/08/24. A 50-day SMA is recorded $14.72, while a 200-day SMA reached $13.18. Nevertheless, trading volume fell to 0.31 million shares from 96800.0 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 14.95, which, if violated, would cause prices to drop to 14.92. In the upper region, resistance lies at 15.00. The next price resistance is at 15.02. RSI (Relative Strength Index) is 79.26 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 3.03%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
