Apollo Management Holdings L.P. Sells 300,000 Shares of MannKind Co. (NASDAQ:MNKD)

Apollo Management Holdings L.P. trimmed its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,113 shares of the biopharmaceutical company's stock after selling 300,000 shares during the quarter. MannKind accounts for approximately 0.1% of Apollo Management Holdings L.P.'s portfolio, making the stock its 22nd largest holding. Apollo Management Holdings L.P. owned about 0.24% of MannKind worth $4,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 6,392 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in MannKind during the 4th quarter worth $65,000. Beirne Wealth Consulting Services LLC bought a new position in shares of MannKind in the fourth quarter valued at approximately $66,000. Marshall Investment Management LLC bought a new stake in shares of MannKind in the 4th quarter worth $69,000. Finally, Proficio Capital Partners LLC acquired a new stake in MannKind during the fourth quarter valued at approximately $70,000. 49.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MNKD has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective for the company. StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, Wedbush reiterated an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, MannKind has an average rating of "Buy" and a consensus target price of $9.56.

MannKind Price Performance

Shares of NASDAQ MNKD traded down $0.03 during mid-day trading on Monday, reaching $4.98. 390,345 shares of the company's stock traded hands, compared to its average volume of 2,381,303. The stock has a market cap of $1.51 billion, a P/E ratio of 70.93 and a beta of 1.14. MannKind Co. has a 1-year low of $4.17 and a 1-year high of $7.63. The business has a 50-day simple moving average of $4.94 and a 200 day simple moving average of $5.88.

MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. The firm had revenue of $76.78 million for the quarter, compared to analysts' expectations of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. Equities research analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

About MannKind

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.