Freestone Grove Partners LP Makes New $362,000 Investment in MannKind Co. (NASDAQ:MNKD)

Freestone Grove Partners LP purchased a new stake in MannKind Co. (NASDAQ:MNKD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 56,332 shares of the biopharmaceutical company's stock, valued at approximately $362,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in shares of MannKind by 8.1% in the fourth quarter. Northern Trust Corp now owns 2,777,784 shares of the biopharmaceutical company's stock worth $17,861,000 after buying an additional 207,792 shares during the period. Aquatic Capital Management LLC boosted its holdings in shares of MannKind by 11.9% during the fourth quarter. Aquatic Capital Management LLC now owns 181,074 shares of the biopharmaceutical company's stock worth $1,164,000 after purchasing an additional 19,274 shares during the period. Oxford Asset Management LLP purchased a new position in MannKind during the fourth quarter valued at approximately $95,000. Kovitz Investment Group Partners LLC acquired a new stake in MannKind during the fourth quarter valued at $65,000. Finally, Oberweis Asset Management Inc. lifted its stake in shares of MannKind by 21.2% in the 4th quarter. Oberweis Asset Management Inc. now owns 968,400 shares of the biopharmaceutical company's stock valued at $6,227,000 after purchasing an additional 169,600 shares during the last quarter. Institutional investors own 49.55% of the company's stock.

MannKind Price Performance

Shares of MNKD traded down $0.22 on Thursday, hitting $4.64. The company's stock had a trading volume of 2,373,765 shares, compared to its average volume of 2,383,004. The company has a market capitalization of $1.41 billion, a PE ratio of 66.21 and a beta of 1.14. The company has a 50 day moving average price of $4.91 and a 200 day moving average price of $5.86. MannKind Co. has a fifty-two week low of $4.17 and a fifty-two week high of $7.63.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on MNKD. Wedbush reiterated an "outperform" rating and set a $11.00 target price on shares of MannKind in a research note on Thursday, February 27th. Mizuho assumed coverage on MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective on the stock. Finally, StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, MannKind currently has an average rating of "Buy" and an average price target of $9.56.

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.