MannKind Co. (NASDAQ:MNKD) Shares Purchased by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 8.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,777,784 shares of the biopharmaceutical company's stock after acquiring an additional 207,792 shares during the period. Northern Trust Corp owned 1.01% of MannKind worth $17,861,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Aquatic Capital Management LLC increased its stake in MannKind by 11.9% in the fourth quarter. Aquatic Capital Management LLC now owns 181,074 shares of the biopharmaceutical company's stock valued at $1,164,000 after purchasing an additional 19,274 shares during the last quarter. Oxford Asset Management LLP acquired a new position in shares of MannKind in the 4th quarter valued at $95,000. Kovitz Investment Group Partners LLC purchased a new position in shares of MannKind in the 4th quarter valued at $65,000. Oberweis Asset Management Inc. raised its stake in MannKind by 21.2% during the 4th quarter. Oberweis Asset Management Inc. now owns 968,400 shares of the biopharmaceutical company's stock worth $6,227,000 after acquiring an additional 169,600 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in MannKind by 12.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 175,009 shares of the biopharmaceutical company's stock worth $1,126,000 after acquiring an additional 18,806 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.

Insiders Place Their Bets

In other MannKind news, EVP David Thomson sold 32,179 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 now directly owns 772,427 shares of the company's stock, valued at approximately $3,614,958.36. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven B. Binder sold 80,144 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total value of $375,875.36. Following 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. 2.70% of the stock is owned by insiders.

MannKind Trading Up 2.3%

Shares of NASDAQ MNKD traded up $0.10 during trading hours on Monday, reaching $4.47. The stock had a trading volume of 1,522,047 shares, compared to its average volume of 2,380,875. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 63.86 and a beta of 1.14. MannKind Co. has a fifty-two week low of $4.34 and a fifty-two week high of $7.63. The firm has a 50-day moving average of $4.83 and a 200-day moving average of $5.72.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings data 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. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The company had revenue of $78.35 million during the quarter, compared to analysts' expectations of $75.86 million. During the same period last year, the firm earned $0.05 EPS. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities analysts predict that MannKind Co. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on MNKD shares. Mizuho assumed coverage on shares of MannKind in a research note on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective for the company. Wedbush reissued an "outperform" rating and issued a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Finally, StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. 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, MannKind currently has an average rating of "Buy" and a consensus price target of $10.00.

About MannKind

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.