BNP Paribas Financial Markets Boosts Stake in MannKind Co. (NASDAQ:MNKD)

BNP Paribas Financial Markets lifted its stake in MannKind Co. (NASDAQ:MNKD - Free Report) by 66.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 783,474 shares of the biopharmaceutical company's stock after purchasing an additional 311,672 shares during the quarter. BNP Paribas Financial Markets owned about 0.28% of MannKind worth $5,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. E Fund Management Co. Ltd. boosted its position in shares of MannKind by 9.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock worth $142,000 after purchasing an additional 1,828 shares in the last quarter. Xponance Inc. lifted its position in MannKind by 10.6% in the 4th quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock valued at $123,000 after acquiring an additional 1,828 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in MannKind by 10.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock valued at $181,000 after acquiring an additional 2,657 shares in the last quarter. AXQ Capital LP lifted its position in MannKind by 19.8% in the 4th quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after acquiring an additional 3,717 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in MannKind by 3.0% in the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after acquiring an additional 4,603 shares in the last quarter. 49.55% of the stock is owned by institutional investors.

MannKind Stock Up 2.3%

MNKD traded up $0.10 during mid-day trading on Monday, reaching $4.47. 1,522,047 shares of the company traded hands, compared to its average volume of 2,380,875. The stock has a market capitalization of $1.36 billion, a P/E ratio of 63.86 and a beta of 1.14. The company's fifty day moving average price is $4.83 and its 200-day moving average price is $5.72. MannKind Co. has a 52-week low of $4.34 and a 52-week high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $78.35 million during the quarter, compared to analyst estimates of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. As a group, sell-side analysts forecast that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MNKD shares. Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Finally, Mizuho started coverage on MannKind in a research report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $10.00.

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 80,144 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total value of $375,875.36. Following the completion of the sale, the director now directly owns 1,006,611 shares in the company, valued at $4,721,005.59. This represents a 7.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Thomson sold 32,179 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the sale, the executive vice president now owns 772,427 shares of the company's stock, valued at $3,614,958.36. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company's stock.

MannKind Company Profile

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.