Man Group plc Raises Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Man Group plc increased its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 61.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,310 shares of the biopharmaceutical company's stock after buying an additional 219,891 shares during the quarter. Man Group plc owned 0.21% of MannKind worth $3,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MNKD. Vanguard Group Inc. lifted its position in MannKind by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company's stock valued at $103,257,000 after purchasing an additional 420,334 shares during the last quarter. Geode Capital Management LLC lifted its position in MannKind by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company's stock valued at $40,996,000 after purchasing an additional 35,346 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in MannKind by 275.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after purchasing an additional 3,587,484 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in MannKind by 23.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company's stock valued at $27,450,000 after purchasing an additional 798,469 shares during the last quarter. Finally, Millennium Management LLC lifted its position in MannKind by 108.8% in the fourth quarter. Millennium Management LLC now owns 3,447,392 shares of the biopharmaceutical company's stock valued at $22,167,000 after purchasing an additional 1,796,442 shares during the last quarter. Institutional investors own 49.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MNKD. Mizuho began coverage on MannKind in a research report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective for the company. Wall Street Zen upgraded MannKind from a "hold" rating to a "buy" rating in a research report 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. Seven 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.com, MannKind presently has a consensus rating of "Buy" and an average target price of $10.00.

Insider Activity at MannKind

In related news, Director Steven B. Binder sold 12,078 shares of the company's 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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 directly owns 772,427 shares in the company, valued at approximately $3,614,958.36. The trade was 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 worth $589,958 over the last quarter. 3.00% of the stock is owned by corporate insiders.

MannKind Stock Performance

Shares of MannKind stock traded up $0.08 during midday trading on Tuesday, reaching $4.20. 1,808,214 shares of the company's stock traded hands, compared to its average volume of 2,380,782. The company has a market cap of $1.28 billion, a PE ratio of 60.00 and a beta of 1.14. The stock has a 50 day moving average of $4.70 and a 200-day moving average of $5.60. MannKind Co. has a 12 month low of $4.05 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company 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 firm's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, equities analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

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.