Merrimack Pharmaceuticals Inc. (NASDAQ:MACK)’s President and Chief Executive Officer J. Robert Mulroy used some stock options on August 21st. to acquire 280,168 company shares at a price of $1.15 per share. This was his second purchase of the year, after buying 5,000 shares for a total value of $31,500 in May 5th. After his latest acquisition, the insider directly owns 1.22 million shares of Common Stock of this $714.33 million market cap firm.
Hedge funds also are feeling bullish regarding Merrimack Pharmaceuticals Inc. (NASDAQ:MACK), a firm engaged in discovering, developing and preparing to commercialize medicins consisting of novel therapeutics paired with companion diagnostics for the treatment of cancer. Ken Griffin’s Citadel Investment Group fund has increased its exposure to the company by a twenty-four percent, while Israel Englander’s Milennium Management has even gone further by increasing it over five times. They each own a total of 27.7 million shares and 2.06 million shares, respectively. Other funds like Jim Simons’s Renaissance Technologies –which owns 569,413 shares- have remained solid throught this last quarter on their position regarding Merrimack Pharmaceuticals Inc. (NASDAQ:MACK).
Disclosure: Pamela Gaviño holds no position in any stocks or funds mentioned.