Man Group plc lifted its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 61.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,310 shares of the biopharmaceutical company's stock after purchasing an additional 219,891 shares during the period. Man Group plc owned 0.21% of MannKind worth $3,719,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of MannKind by 3,294.8% during 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 approximately $65,000. Beirne Wealth Consulting Services LLC acquired a new position in MannKind during the 4th quarter worth approximately $66,000. Marshall Investment Management LLC acquired a new position in MannKind during the 4th quarter worth approximately $69,000. Finally, Proficio Capital Partners LLC acquired a new position in MannKind during the 4th quarter worth approximately $70,000. Institutional investors own 49.55% of the company's stock.
Analyst Upgrades and Downgrades
MNKD has been the topic of a number of research reports. Mizuho initiated coverage on MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th. Finally, Wall Street Zen raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, MannKind currently has a consensus rating of "Buy" and a consensus price target of $10.00.
Read Our Latest Report on MNKD
MannKind Stock Performance
Shares of MannKind stock traded down $0.10 on Friday, hitting $4.12. The company had a trading volume of 2,032,135 shares, compared to its average volume of 2,383,072. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 58.86 and a beta of 1.14. MannKind Co. has a 1 year low of $4.05 and a 1 year high of $7.63. The stock has a 50 day moving average of $4.75 and a 200-day moving average of $5.65.
MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $78.35 million during the quarter, compared to the consensus estimate of $75.86 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. Equities analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current year.
Insider Transactions at MannKind
In other news, Director Steven B. Binder sold 12,078 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 989,343 shares of the company's stock, valued at $4,353,109.20. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Thomson sold 32,179 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the transaction, the executive vice president now directly owns 772,427 shares of the company's stock, valued at approximately $3,614,958.36. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,746 shares of company stock valued at $589,958 over the last ninety days. 2.70% of the stock is currently owned by insiders.
About MannKind
(
Free Report)
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.
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