1,590,761 Shares in MannKind Co. (NASDAQ:MNKD) Purchased by Graham Capital Management L.P.

Graham Capital Management L.P. acquired a new stake in MannKind Co. (NASDAQ:MNKD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,590,761 shares of the biopharmaceutical company's stock, valued at approximately $10,229,000. Graham Capital Management L.P. owned 0.58% of MannKind at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNKD. Arrowstreet Capital Limited Partnership lifted its stake in shares of MannKind by 275.9% during the 4th 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 last quarter. Dimensional Fund Advisors LP grew its position in shares of MannKind by 40.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,958,219 shares of the biopharmaceutical company's stock valued at $19,022,000 after purchasing an additional 855,261 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in MannKind by 23.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company's stock worth $27,450,000 after purchasing an additional 798,469 shares during the last quarter. First Trust Advisors LP acquired a new position in MannKind in the 4th quarter valued at $4,998,000. Finally, Bank of America Corp DE increased its position in MannKind by 29.5% during the 4th quarter. Bank of America Corp DE now owns 3,364,313 shares of the biopharmaceutical company's stock worth $21,633,000 after buying an additional 765,483 shares during the period. 49.55% of the stock is currently owned by institutional investors.

MannKind Stock Down 0.3%

MannKind stock traded down $0.02 during trading hours on Thursday, reaching $4.56. 759,116 shares of the company's stock were exchanged, compared to its average volume of 2,377,651. The firm has a market capitalization of $1.38 billion, a PE ratio of 65.21 and a beta of 1.14. The firm's 50 day simple moving average is $4.87 and its 200 day simple moving average is $5.79. MannKind Co. has a twelve month low of $4.34 and a twelve month 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. 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 during the quarter, compared to analysts' expectations of $75.86 million. During the same period last year, the company posted $0.05 earnings per share. The business's quarterly revenue was up 18.1% on a year-over-year basis. Analysts anticipate that MannKind Co. will post 0.1 EPS for the current year.

Analyst Upgrades and Downgrades

MNKD has been the subject of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th. StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, Mizuho initiated coverage on shares of MannKind in a research report on Thursday, April 10th. They issued 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $10.00.

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.