Two Sigma Investments LP Acquires 134,936 Shares of MannKind Co. (NASDAQ:MNKD)

Two Sigma Investments LP raised its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,174,164 shares of the biopharmaceutical company's stock after acquiring an additional 134,936 shares during the quarter. Two Sigma Investments LP owned approximately 1.15% of MannKind worth $20,410,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in MannKind by 186.0% in the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock valued at $3,271,000 after acquiring an additional 338,121 shares during the period. Victory Capital Management Inc. raised its stake in shares of MannKind by 358.6% in the fourth quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock worth $1,411,000 after buying an additional 171,537 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of MannKind by 275.9% in the fourth 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 during the period. Charles Schwab Investment Management Inc. raised its stake in shares of MannKind by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock worth $14,597,000 after buying an additional 45,277 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of MannKind in the fourth quarter worth about $70,000. Institutional investors own 49.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MNKD shares. Wall Street Zen raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Wedbush reiterated an "outperform" rating and set a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Finally, Mizuho began coverage on MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 target price for the company. Seven research 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 company presently has a consensus rating of "Buy" and a consensus price target of $10.00.

Insider Activity

In other news, EVP David Thomson sold 32,179 shares of the firm's stock in a transaction that occurred 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 directly owns 772,427 shares of the company's stock, valued at $3,614,958.36. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven B. Binder sold 80,144 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total value of $375,875.36. Following the completion of the sale, the director now directly owns 1,006,611 shares of the company's stock, valued at $4,721,005.59. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,746 shares of company stock valued at $589,958 in the last ninety days. Insiders own 2.70% of the company's stock.

MannKind Stock Up 1.8%

NASDAQ MNKD traded up $0.08 during trading on Tuesday, hitting $4.20. 521,921 shares of the stock traded hands, compared to its average volume of 2,375,759. The company has a market capitalization of $1.27 billion, a P/E ratio of 59.93 and a beta of 1.14. The firm has a 50-day simple moving average of $4.72 and a 200-day simple moving average of $5.61. MannKind Co. has a 12-month low of $4.05 and a 12-month high of $7.63.

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

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.