180 Wealth Advisors LLC Boosts Stock Holdings in MannKind Co. (NASDAQ:MNKD)

180 Wealth Advisors LLC increased its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,194,704 shares of the biopharmaceutical company's stock after buying an additional 88,997 shares during the quarter. MannKind comprises 1.8% of 180 Wealth Advisors LLC's portfolio, making the stock its 5th largest holding. 180 Wealth Advisors LLC owned about 0.72% of MannKind worth $11,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its stake in MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock valued at $3,271,000 after purchasing an additional 338,121 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of MannKind by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 58,475 shares of the biopharmaceutical company's stock worth $376,000 after acquiring an additional 5,585 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of MannKind by 9.5% during the 4th quarter. Principal Financial Group Inc. now owns 184,575 shares of the biopharmaceutical company's stock worth $1,187,000 after acquiring an additional 16,057 shares in the last quarter. Beirne Wealth Consulting Services LLC bought a new stake in shares of MannKind during the 4th quarter worth $66,000. Finally, Marshall Investment Management LLC bought a new stake in shares of MannKind during the 4th quarter worth $69,000. 49.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP David Thomson sold 32,179 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total transaction of $150,597.72. Following the completion of the sale, the executive vice president now directly owns 772,427 shares in the company, valued at approximately $3,614,958.36. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Binder sold 12,078 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.40, for a total value of $53,143.20. Following the sale, the director now owns 989,343 shares of the company's stock, valued at approximately $4,353,109.20. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,746 shares of company stock worth $589,958. Corporate insiders own 2.70% of the company's stock.

MannKind Stock Down 0.5%

Shares of MNKD traded down $0.02 during mid-day trading on Thursday, reaching $4.33. The company's stock had a trading volume of 447,812 shares, compared to its average volume of 1,990,415. The business has a fifty day moving average of $4.59 and a 200 day moving average of $5.50. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 61.86 and a beta of 1.14. MannKind Co. has a 1 year low of $4.05 and a 1 year high of $7.63.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wedbush reissued an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Mizuho assumed coverage on MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective for the company. Finally, Wall Street Zen raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $10.00.

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.