Rhumbline Advisers reduced its stake in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) by 89.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,659 shares of the biopharmaceutical company’s stock after selling 130,430 shares during the period. Rhumbline Advisers owned approximately 0.11% of Merrimack Pharmaceuticals worth $213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY increased its holdings in Merrimack Pharmaceuticals by 6.5% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 93,074 shares of the biopharmaceutical company’s stock valued at $287,000 after acquiring an additional 5,688 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Merrimack Pharmaceuticals by 14.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 113,235 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 14,591 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Merrimack Pharmaceuticals by 5.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 438,888 shares of the biopharmaceutical company’s stock valued at $1,352,000 after acquiring an additional 22,401 shares during the last quarter. Virtu KCG Holdings LLC increased its holdings in Merrimack Pharmaceuticals by 46.5% in the 2nd quarter. Virtu KCG Holdings LLC now owns 89,020 shares of the biopharmaceutical company’s stock valued at $110,000 after acquiring an additional 28,235 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Merrimack Pharmaceuticals by 2.0% in the 2nd quarter. Northern Trust Corp now owns 1,448,367 shares of the biopharmaceutical company’s stock valued at $1,796,000 after acquiring an additional 28,243 shares during the last quarter. Institutional investors own 52.57% of the company’s stock.

A number of analysts have issued reports on MACK shares. ValuEngine upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Zacks Investment Research downgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $15.00 price target on shares of Merrimack Pharmaceuticals in a report on Friday, October 13th.

Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ MACK) opened at $10.35 on Friday. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.45. Merrimack Pharmaceuticals, Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $54.80.

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Merrimack Pharmaceuticals Profile

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.

Institutional Ownership by Quarter for Merrimack Pharmaceuticals (NASDAQ:MACK)

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