MannKind Corporation (NASDAQ:MNKD) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in MannKind Corporation (NASDAQ:MNKD - Free Report) by 62.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,200 shares of the biopharmaceutical company's stock after acquiring an additional 137,833 shares during the period. Victory Capital Management Inc. owned 0.12% of MannKind worth $1,797,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in MannKind by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company's stock valued at $103,257,000 after acquiring an additional 420,334 shares during the last quarter. Geode Capital Management LLC lifted its holdings in MannKind by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company's stock valued at $40,996,000 after acquiring an additional 35,346 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in MannKind by 275.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after acquiring an additional 3,587,484 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in MannKind by 23.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company's stock valued at $27,450,000 after acquiring an additional 798,469 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in MannKind by 108.8% during the fourth quarter. Millennium Management LLC now owns 3,447,392 shares of the biopharmaceutical company's stock worth $22,167,000 after purchasing an additional 1,796,442 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Stock Performance

Shares of MNKD stock traded down $0.03 during mid-day trading on Friday, hitting $3.75. 2,543,159 shares of the stock were exchanged, compared to its average volume of 2,423,660. The stock's fifty day simple moving average is $3.91 and its two-hundred day simple moving average is $4.72. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 37.50 and a beta of 1.02. MannKind Corporation has a 12-month low of $3.51 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The firm had revenue of $78.35 million for the quarter, compared to analyst estimates of $75.86 million. During the same quarter last year, the company posted $0.05 earnings per share. The business's revenue was up 18.1% on a year-over-year basis. On average, research analysts expect that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MNKD. Wall Street Zen cut MannKind from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada dropped their target price on MannKind from $10.00 to $8.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. HC Wainwright raised MannKind to a "buy" rating and set a $9.00 target price on the stock in a report on Wednesday, July 16th. Finally, Mizuho began coverage on MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, MannKind presently has an average rating of "Buy" and a consensus target price of $9.86.

Insider Transactions at MannKind

In related 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 transaction of $375,875.36. Following the transaction, the director owned 1,006,611 shares of the company's stock, valued at $4,721,005.59. This trade represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Thomson sold 32,179 shares of the firm'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 sale, the executive vice president owned 772,427 shares of the company's stock, valued at approximately $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 three months, insiders have sold 266,198 shares of company stock worth $1,143,244. Corporate insiders own 2.70% of the company's stock.

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.