All three benchmark US indexes closed lower on Friday after fluctuating throughout the session.
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) performed nicely this week, continuing its impressive near-term upward movement. The stock has moved north 3.24% over the past week of trading.
Looking further out, over the past twelve months, Merrimack Pharmaceuticals, Inc.’s stock was -56.18% and -2.50% over the last quarter and -34.48% for the past six months.
There are many reasons why a stock might advance so much, so quickly. The total market, including country, continent, or global, might have gone up due to macro reasons. The company might have reported better than expected (consensus) earnings results. A sell-side firm might have issued a buy report on the company. The company might have announced a major change in the business, such as a buyout, M&A, spin-off, R&D results or the acquisition of a new large client. The company might have announced its involvement in a lawsuit. The company might have changed its yearly guidance. The institutional investors might have bought a large chunk of stocks of the company.
Over the past 50 days, Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) stock was -8.53% off of the high and 22.83% removed from the low. Their 52-Week High and Low are noted here. -69.60% (High), 24.25%, (Low).
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) may have great momentum, but how has it been performing relative to the market? The stock’s price is $14.04 and their relative strength index (RSI) stands at 59.04. RSI is a technical oscillator that shows price strength by comparing upward and downward movements. It indicates oversold and overbought price levels for a stock.
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. This is not a recommendation to buy or sell Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK).