Two Sigma Advisers LP Grows Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Two Sigma Advisers LP boosted its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,092,627 shares of the biopharmaceutical company's stock after purchasing an additional 444,300 shares during the quarter. Two Sigma Advisers LP owned about 1.12% of MannKind worth $19,886,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. E Fund Management Co. Ltd. raised its stake in MannKind by 9.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock valued at $142,000 after purchasing an additional 1,828 shares in the last quarter. Xponance Inc. raised its stake in MannKind by 10.6% during the fourth quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock valued at $123,000 after purchasing an additional 1,828 shares in the last quarter. Summit Investment Advisors Inc. increased its position in MannKind by 10.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock valued at $181,000 after acquiring an additional 2,657 shares during the last quarter. AXQ Capital LP increased its position in MannKind by 19.8% during the fourth quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after acquiring an additional 3,717 shares during the last quarter. Finally, State of Wyoming increased its position in MannKind by 51.6% during the fourth quarter. State of Wyoming now owns 12,772 shares of the biopharmaceutical company's stock valued at $82,000 after acquiring an additional 4,345 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Trading Up 1.8%

Shares of NASDAQ MNKD traded up $0.08 during mid-day trading on Tuesday, reaching $4.20. The company had a trading volume of 521,921 shares, compared to its average volume of 2,375,759. The business's 50-day moving average is $4.72 and its 200-day moving average is $5.61. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 59.93 and a beta of 1.14. MannKind Co. has a 52 week low of $4.05 and a 52 week high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $78.35 million for the quarter, compared to analysts' expectations of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The business's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, equities research analysts forecast that MannKind Co. will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In other MannKind news, EVP David Thomson sold 32,179 shares of the 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 in the company, valued at $3,614,958.36. This represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven B. Binder sold 12,078 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.40, for a total transaction of $53,143.20. Following the transaction, the director now owns 989,343 shares in the company, valued at approximately $4,353,109.20. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,746 shares of company stock worth $589,958 in the last three months. Corporate insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MNKD shares. Wall Street Zen upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Wedbush reiterated an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. Finally, Mizuho started coverage on shares of MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective on the stock. Seven investment 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, MannKind presently has an average rating of "Buy" and an average price target 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.