Two Sigma Investments LP Boosts Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Two Sigma Investments LP raised its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,174,164 shares of the biopharmaceutical company's stock after purchasing an additional 134,936 shares during the quarter. Two Sigma Investments LP owned 1.15% of MannKind worth $20,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of MannKind by 3,294.8% in the 4th quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 6,392 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in MannKind in the fourth quarter worth $65,000. Beirne Wealth Consulting Services LLC acquired a new stake in MannKind in the fourth quarter valued at $66,000. Proficio Capital Partners LLC purchased a new stake in shares of MannKind during the 4th quarter worth $70,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of MannKind during the 4th quarter worth $69,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

Wall Street Analysts Forecast Growth

MNKD has been the subject of a number of research analyst reports. Mizuho started coverage on shares of MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price target for the company. StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Finally, Wedbush reissued an "outperform" rating and set a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $10.00.

Insider Buying and Selling at MannKind

In related news, Director Steven B. Binder sold 80,144 shares of MannKind stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total transaction of $375,875.36. Following the completion of the sale, the director now owns 1,006,611 shares in the company, valued at approximately $4,721,005.59. This trade represents a 7.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Thomson sold 32,179 shares of the business'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 completion of the transaction, the executive vice president now directly owns 772,427 shares of the company's stock, valued at $3,614,958.36. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,746 shares of company stock worth $589,958. 2.70% of the stock is owned by insiders.

MannKind Trading Down 4.4%

NASDAQ:MNKD opened at $4.17 on Thursday. The company has a market capitalization of $1.27 billion, a P/E ratio of 59.57 and a beta of 1.14. The firm has a 50-day moving average price of $4.79 and a two-hundred day moving average price of $5.70. MannKind Co. has a twelve month low of $4.14 and a twelve 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 EPS for the quarter, beating 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 business had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company's quarterly revenue was up 18.1% on a year-over-year basis. On average, equities research analysts predict that MannKind Co. will post 0.1 earnings per share for the current year.

MannKind 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.

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