Merrimack Pharmaceuticals, Inc. (MACK) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. decreased its stake in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) by 90.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,029 shares of the biopharmaceutical company’s stock after selling 180,265 shares during the period. Brown Advisory Inc. owned about 0.15% of Merrimack Pharmaceuticals worth $291,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Merrimack Pharmaceuticals by 4.4% in the 1st quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock worth $3,079,000 after buying an additional 42,194 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Merrimack Pharmaceuticals by 2.0% in the 2nd quarter. Northern Trust Corp now owns 1,448,367 shares of the biopharmaceutical company’s stock worth $1,796,000 after buying an additional 28,243 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Merrimack Pharmaceuticals by 108.1% in the 2nd quarter. Alliancebernstein L.P. now owns 217,900 shares of the biopharmaceutical company’s stock worth $270,000 after buying an additional 113,200 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of 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 worth $1,352,000 after buying an additional 22,401 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Merrimack Pharmaceuticals by 34.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 155,771 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 39,587 shares during the last quarter. 52.57% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Ulrik B. Nielsen sold 7,896 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $14.23, for a total value of $112,360.08. Following the completion of the sale, the director now owns 22,781 shares of the company’s stock, valued at approximately $324,173.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.53% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on MACK. ValuEngine lowered shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Monday, October 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Merrimack Pharmaceuticals in a research note on Friday, October 13th. Finally, Zacks Investment Research cut shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th.

Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ MACK) opened at $10.15 on Wednesday. Merrimack Pharmaceuticals, Inc. has a 12 month low of $10.04 and a 12 month high of $54.80. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.45.

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Merrimack Pharmaceuticals Company 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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