Nitorum Capital L.P. Lowers Stock Position in MannKind Co. (NASDAQ:MNKD)

Nitorum Capital L.P. trimmed its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,747,316 shares of the biopharmaceutical company's stock after selling 410,191 shares during the quarter. MannKind makes up 6.5% of Nitorum Capital L.P.'s holdings, making the stock its 4th biggest holding. Nitorum Capital L.P. owned approximately 3.17% of MannKind worth $56,245,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of MannKind by 186.0% in the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock worth $3,271,000 after acquiring an additional 338,121 shares during the period. Franklin Resources Inc. raised its holdings in MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock worth $1,047,000 after purchasing an additional 4,603 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock valued at $1,060,000 after purchasing an additional 134,937 shares during the last quarter. 180 Wealth Advisors LLC increased its position in shares of MannKind by 1.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company's stock worth $13,540,000 after buying an additional 21,170 shares during the period. Finally, New Wave Wealth Advisors LLC increased its position in shares of MannKind by 78.6% during the fourth quarter. New Wave Wealth Advisors LLC now owns 50,000 shares of the biopharmaceutical company's stock worth $322,000 after buying an additional 22,000 shares during the period. 49.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MNKD shares. Mizuho started coverage on shares of MannKind in a research report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MannKind presently has a consensus rating of "Buy" and a consensus target price of $9.56.

MannKind Stock Performance

Shares of MannKind stock traded down $0.09 during trading hours on Thursday, reaching $4.96. The company's stock had a trading volume of 690,425 shares, compared to its average volume of 2,016,252. MannKind Co. has a one year low of $4.16 and a one year high of $7.63. The company has a market capitalization of $1.51 billion, a P/E ratio of 70.79 and a beta of 1.22. The stock's fifty day simple moving average is $4.96 and its two-hundred day simple moving average is $5.92.

MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The firm had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. As a group, research analysts forecast that MannKind Co. will post 0.1 earnings per share for the current year.

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.