Wittenberg Investment Management Inc. raised its holdings in shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) by 28.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 83,811 shares of the biopharmaceutical company’s stock after purchasing an additional 18,793 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Merrimack Pharmaceuticals were worth $859,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of MACK. Macquarie Group Ltd. purchased a new stake in shares of Merrimack Pharmaceuticals in the 3rd quarter valued at approximately $137,000. Spark Investment Management LLC purchased a new stake in shares of Merrimack Pharmaceuticals in the 4th quarter valued at approximately $109,000. Virtu Financial LLC purchased a new stake in Merrimack Pharmaceuticals in the 4th quarter worth approximately $115,000. Wells Fargo & Company MN lifted its position in Merrimack Pharmaceuticals by 43.9% in the 4th quarter. Wells Fargo & Company MN now owns 18,287 shares of the biopharmaceutical company’s stock worth $187,000 after buying an additional 5,581 shares in the last quarter. Finally, Stonebridge Capital Management Inc. purchased a new stake in Merrimack Pharmaceuticals in the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 52.32% of the company’s stock.
Shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) opened at $11.29 on Monday. Merrimack Pharmaceuticals Inc has a 12-month low of $9.68 and a 12-month high of $39.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.35 and a quick ratio of 3.35. The stock has a market cap of $150.60, a P/E ratio of 0.33 and a beta of 1.74.
Merrimack Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.
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