Deutsche Bank AG Boosts Stock Position in MannKind Co. (NASDAQ:MNKD)

Deutsche Bank AG lifted its stake in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,738 shares of the biopharmaceutical company's stock after acquiring an additional 74,018 shares during the quarter. Deutsche Bank AG owned approximately 0.18% of MannKind worth $3,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its position in shares of MannKind by 186.0% during the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock worth $3,271,000 after acquiring an additional 338,121 shares during the last quarter. Victory Capital Management Inc. increased its holdings in MannKind by 358.6% in the fourth quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock worth $1,411,000 after purchasing an additional 171,537 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings 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 worth $31,427,000 after purchasing an additional 3,587,484 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in MannKind by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock worth $14,597,000 after purchasing an additional 45,277 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in MannKind in the fourth quarter worth approximately $70,000. 49.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MNKD. Wall Street Zen upgraded MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Mizuho began coverage on MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 target price for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, MannKind currently has an average rating of "Buy" and a consensus price target of $10.00.

MannKind Stock Performance

Shares of NASDAQ MNKD traded down $0.10 during midday trading on Monday, hitting $4.12. 2,032,135 shares of the stock traded hands, compared to its average volume of 2,383,072. The company has a market cap of $1.25 billion, a PE ratio of 58.86 and a beta of 1.14. MannKind Co. has a one year low of $4.05 and a one year high of $7.63. The business has a 50 day moving average price of $4.72 and a two-hundred day moving average price of $5.61.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, equities research analysts forecast that MannKind Co. will post 0.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Steven B. Binder sold 80,144 shares of MannKind stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total transaction of $375,875.36. Following the transaction, the director now owns 1,006,611 shares of the company's stock, valued at $4,721,005.59. The trade was a 7.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Thomson sold 32,179 shares of MannKind 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 transaction, 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 position. 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. 2.70% of the stock is currently owned by corporate insiders.

MannKind 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.