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Merrimack Pharmaceuticals Inc [MACK] Investment Guide: What You Need to Know

Merrimack Pharmaceuticals Inc’s filing revealed that its Director Andersen Eric acquired Company’s shares for reported $11441.0 on Dec 28 ’23. In the deal valued at $13.35 per share,857 shares were bought. As a result of this transaction, Andersen Eric now holds 534,008 shares worth roughly $8.06 million.

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Then, Andersen Eric bought 48,693 shares, generating $640,313 in total proceeds. Upon buying the shares at $13.15, the Director now owns 533,151 shares.

Before that, Andersen Eric bought 101,050 shares. Merrimack Pharmaceuticals Inc shares valued at $1,298,472 were divested by the Director at a price of $12.85 per share. As a result of the transaction, Andersen Eric now holds 1,735,600 shares, worth roughly $26.21 million.

JP Morgan downgraded its Merrimack Pharmaceuticals Inc [MACK] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who began to cover the stock in late May with a ‘”a Neutral”‘ rating. Mizuho also remained covering MACK and reiterated its “Buy” recommendation on December 23, 2015. Oppenheimer maintained its rating on October 27, 2015. It rated MACK as “an Outperform”.

Price Performance Review of MACK

On Monday, Merrimack Pharmaceuticals Inc [NASDAQ:MACK] saw its stock fall -0.13% to $15.10. Over the last five days, the stock has gained 0.67%. Merrimack Pharmaceuticals Inc shares have risen nearly 12.60% since the year began. Nevertheless, the stocks have risen 20.51% over the past one year. While a 52-week high of $15.89 was reached on 02/13/24, a 52-week low of $11.53 was recorded on 02/08/24. SMA at 50 days reached $14.77, while 200 days put it at $13.31. A total of 0.51 million shares were traded, compared to the trading of 0.2 million shares in the previous session.

Levels Of Support And Resistance For MACK Stock

The 24-hour chart illustrates a support level at 15.09, which if violated will result in even more drops to 15.08. On the upside, there is a resistance level at 15.12. A further resistance level may holdings at 15.14. The Relative Strength Index (RSI) on the 14-day chart is 77.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 6.98%. Stochastics %K at 93.65% indicates the stock is a selling.

The most recent change occurred on April 21, 2015 when Mizuho resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $16.

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