Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Short Interest Down 23.1% in November

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK – Get Rating) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 649,800 shares, a drop of 23.1% from the November 15th total of 844,700 shares. Based on an average daily volume of 640,500 shares, the days-to-cover ratio is currently 1.0 days. Approximately 5.8% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Merrimack Pharmaceuticals in a research report on Wednesday, December 7th. They issued a “sell” rating for the company.

Merrimack Pharmaceuticals Trading Up 1.1 %

Shares of MACK opened at $11.55 on Friday. Merrimack Pharmaceuticals has a 1 year low of $3.00 and a 1 year high of $13.66. The stock has a market cap of $154.89 million, a P/E ratio of -105.00 and a beta of 1.90. The stock’s 50-day moving average price is $8.19 and its two-hundred day moving average price is $5.99.

Hedge Funds Weigh In On Merrimack Pharmaceuticals

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new position in Merrimack Pharmaceuticals during the second quarter worth about $84,000. Yakira Capital Management Inc. lifted its holdings in shares of Merrimack Pharmaceuticals by 20.7% during the 1st quarter. Yakira Capital Management Inc. now owns 88,683 shares of the biopharmaceutical company’s stock valued at $561,000 after purchasing an additional 15,233 shares in the last quarter. Sepio Capital LP lifted its holdings in shares of Merrimack Pharmaceuticals by 6.7% during the 2nd quarter. Sepio Capital LP now owns 316,313 shares of the biopharmaceutical company’s stock valued at $1,882,000 after purchasing an additional 19,767 shares in the last quarter. Bronte Capital Management Pty Ltd. lifted its holdings in shares of Merrimack Pharmaceuticals by 7.6% during the 1st quarter. Bronte Capital Management Pty Ltd. now owns 578,313 shares of the biopharmaceutical company’s stock valued at $3,658,000 after purchasing an additional 40,729 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Merrimack Pharmaceuticals by 228.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,100,994 shares of the biopharmaceutical company’s stock valued at $4,129,000 after purchasing an additional 765,886 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.

About Merrimack Pharmaceuticals

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Merrimack Pharmaceuticals, Inc operates as a biopharmaceutical company. The company was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.