MannKind Corporation $MNKD Shares Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in MannKind Corporation by 743.3%, acquiring 618,972 shares during the first quarter, bringing its total holdings to 702,240 shares worth $3.53 million.
• MannKind's stock has seen a 25.1% increase recently, with current trading at $5.74, while it has a market cap of $1.76 billion and a PE ratio of 52.19.
• In its latest earnings release, MannKind reported earnings of $0.05 per share, surpassing analysts' expectations, alongside a 5.7% year-over-year revenue growth to $76.53 million.

Trexquant Investment LP grew its position in MannKind Corporation (NASDAQ:MNKD - Free Report) by 743.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 702,240 shares of the biopharmaceutical company's stock after buying an additional 618,972 shares during the quarter. Trexquant Investment LP owned 0.23% of MannKind worth $3,532,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MNKD. GF Fund Management CO. LTD. purchased a new position in shares of MannKind in the fourth quarter valued at $37,000. Blueshift Asset Management LLC purchased a new position in shares of MannKind in the first quarter valued at $51,000. Sowell Financial Services LLC purchased a new position in shares of MannKind in the first quarter valued at $56,000. Virtu Financial LLC purchased a new position in shares of MannKind in the first quarter valued at $70,000. Finally, Waverly Advisors LLC purchased a new position in shares of MannKind in the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Trading Up 25.1%

MannKind stock opened at $5.74 on Wednesday. The stock has a 50-day moving average price of $3.90 and a 200 day moving average price of $4.43. MannKind Corporation has a 52 week low of $3.38 and a 52 week high of $7.63. The stock has a market cap of $1.76 billion, a PE ratio of 52.19 and a beta of 1.02.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The firm had revenue of $76.53 million for the quarter, compared to analyst estimates of $77.82 million. During the same period last year, the company earned $0.05 EPS. The firm's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that MannKind Corporation will post 0.1 EPS for the current year.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 75,367 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $3.94, for a total value of $296,945.98. Following the sale, the director directly owned 830,508 shares of the company's stock, valued at approximately $3,272,201.52. This trade represents a 8.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MNKD shares. Wall Street Zen cut MannKind from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada lifted their price objective on MannKind from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 26th. Finally, HC Wainwright lifted their price objective on MannKind from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating and five have assigned a 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 $9.83.

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.

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