Nomura Holdings Inc. Lowers Stake in MannKind Co. (NASDAQ:MNKD)

Nomura Holdings Inc. cut its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 94.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 161,959 shares of the biopharmaceutical company's stock after selling 2,792,237 shares during the quarter. Nomura Holdings Inc. owned about 0.06% of MannKind worth $1,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MNKD. Jones Financial Companies Lllp increased its stake in MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 6,392 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of MannKind during the 4th quarter worth about $65,000. Beirne Wealth Consulting Services LLC acquired a new position in shares of MannKind during the fourth quarter worth approximately $66,000. Proficio Capital Partners LLC acquired a new stake in shares of MannKind during the 4th quarter worth approximately $70,000. Finally, Marshall Investment Management LLC bought a new position in shares of MannKind during the fourth quarter worth $69,000. Institutional investors and hedge funds own 49.55% of the company's stock.

Insider Buying and Selling at MannKind

In other MannKind news, EVP David Thomson sold 32,179 shares of the 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 owns 772,427 shares in the company, valued at approximately $3,614,958.36. This represents a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven B. Binder sold 80,144 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total transaction of $375,875.36. Following the sale, the director now directly owns 1,006,611 shares in the company, valued at approximately $4,721,005.59. The trade was a 7.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,746 shares of company stock valued at $589,958. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MNKD shares. Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. Wall Street Zen upgraded MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Finally, Mizuho initiated coverage on MannKind in a research note on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $10.00.

MannKind Stock Up 1.2%

MNKD traded up $0.05 during trading hours on Thursday, hitting $4.22. The stock had a trading volume of 1,733,756 shares, compared to its average volume of 2,377,249. The stock has a market cap of $1.28 billion, a PE ratio of 60.29 and a beta of 1.14. MannKind Co. has a 1 year low of $4.06 and a 1 year high of $7.63. The company's fifty day simple moving average is $4.79 and its 200 day simple moving average is $5.70.

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, topping the consensus estimate 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 the consensus estimate of $75.86 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company's quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities analysts expect that MannKind Co. will post 0.1 EPS for the current year.

About MannKind

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.