MannKind Co. (NASDAQ:MNKD) Shares Acquired by Millennium Management LLC

Millennium Management LLC boosted its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 108.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,447,392 shares of the biopharmaceutical company's stock after buying an additional 1,796,442 shares during the period. Millennium Management LLC owned 1.25% of MannKind worth $22,167,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in MannKind by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company's stock worth $103,257,000 after buying an additional 420,334 shares in the last quarter. Geode Capital Management LLC increased its stake in MannKind by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company's stock worth $40,996,000 after buying an additional 35,346 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MannKind by 275.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock worth $31,427,000 after buying an additional 3,587,484 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in MannKind by 23.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company's stock worth $27,450,000 after buying an additional 798,469 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in MannKind by 29.5% during the 4th quarter. Bank of America Corp DE now owns 3,364,313 shares of the biopharmaceutical company's stock worth $21,633,000 after buying an additional 765,483 shares in the last quarter. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Price Performance

MNKD traded down $0.10 during trading hours on Monday, reaching $4.12. The company's stock had a trading volume of 2,032,135 shares, compared to its average volume of 2,383,072. MannKind Co. has a fifty-two week low of $4.05 and a fifty-two week high of $7.63. The stock has a market cap of $1.25 billion, a PE ratio of 58.86 and a beta of 1.14. The business's 50-day moving average is $4.72 and its 200-day moving average is $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 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 firm had revenue of $78.35 million for the quarter, compared to analysts' expectations of $75.86 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm's quarterly revenue was up 18.1% on a year-over-year basis. Analysts expect that MannKind Co. will post 0.1 EPS for the current year.

Insider Activity at MannKind

In other MannKind news, Director Steven B. Binder sold 80,144 shares of the company's stock in a transaction 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 directly owns 1,006,611 shares in the company, valued at $4,721,005.59. This represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the executive vice president now owns 772,427 shares in the company, valued at $3,614,958.36. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,746 shares of company stock worth $589,958. Insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

MNKD has been the subject of several 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 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 restated an "outperform" rating and issued a $11.00 price target 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently 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.