MannKind Co. (NASDAQ:MNKD) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,247,059 shares of the biopharmaceutical company's stock after selling 91,287 shares during the quarter. Nuveen Asset Management LLC owned 0.81% of MannKind worth $14,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of MannKind by 108.8% in the 4th quarter. Millennium Management LLC now owns 3,447,392 shares of the biopharmaceutical company's stock valued at $22,167,000 after buying an additional 1,796,442 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MannKind by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 204,486 shares of the biopharmaceutical company's stock valued at $1,316,000 after acquiring an additional 6,750 shares during the period. Janus Henderson Group PLC boosted its position in shares of MannKind by 21.6% during the 4th quarter. Janus Henderson Group PLC now owns 127,763 shares of the biopharmaceutical company's stock worth $822,000 after purchasing an additional 22,700 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of MannKind by 22.4% during the 4th quarter. Gotham Asset Management LLC now owns 53,066 shares of the biopharmaceutical company's stock worth $341,000 after purchasing an additional 9,717 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of MannKind in the 4th quarter valued at about $10,229,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Stock Up 0.8%

Shares of MNKD traded up $0.04 during trading hours on Friday, reaching $4.16. 521,234 shares of the company traded hands, compared to its average volume of 2,369,217. The stock has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $5.57. The stock has a market capitalization of $1.26 billion, a PE ratio of 59.36 and a beta of 1.14. MannKind Co. has a fifty-two week low of $4.05 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results 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 net margin of 8.07% and a negative return on equity of 17.74%. The firm had revenue of $78.35 million during the quarter, compared to analysts' expectations of $75.86 million. During the same period in the previous year, the company earned $0.05 EPS. MannKind's revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research note 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 price target on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of MannKind in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $10.00.

Insider Activity at MannKind

In other MannKind news, Director Steven B. Binder sold 80,144 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total value of $375,875.36. Following the sale, the director now directly owns 1,006,611 shares of the company's stock, valued at approximately $4,721,005.59. This trade represents a 7.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Thomson sold 32,179 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total transaction of $150,597.72. Following the transaction, the executive vice president now directly owns 772,427 shares of the company's stock, valued at approximately $3,614,958.36. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,746 shares of company stock worth $589,958. 3.00% of the stock is currently owned by insiders.

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.