Published on 15 Aug 2023 on GuruFocus.com via Yahoo Finance
Western Standard LLC Boosts Stake in Merrimack Pharmaceuticals Inc
Western Standard LLC, a Los Angeles-based investment firm, recently increased its holdings in Merrimack Pharmaceuticals Inc (NASDAQ:MACK), a leading biotechnology company. This article provides an in-depth analysis of the transaction, the profiles of both the guru and the traded company, and the potential implications for investors.
Details of the Transaction
On December 29, 2022, Western Standard LLC added 818,645 shares of Merrimack Pharmaceuticals Inc to its portfolio at a trade price of $11.11 per share. This transaction increased the firm's total holdings in the company to 1,991,108 shares, representing 24.06% of its portfolio and 13.90% of Merrimack's outstanding shares. The trade had a 9.89% impact on the guru's portfolio and resulted in a 69.82% change in its shareholdings.