Parkman Healthcare Partners LLC Has $20.11 Million Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Parkman Healthcare Partners LLC reduced its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,126,727 shares of the biopharmaceutical company's stock after selling 177,358 shares during the period. MannKind comprises about 2.7% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 10th largest holding. Parkman Healthcare Partners LLC owned 1.13% of MannKind worth $20,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MNKD. E Fund Management Co. Ltd. boosted its position in MannKind by 9.0% during the fourth quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock valued at $142,000 after purchasing an additional 1,828 shares during the last quarter. Xponance Inc. boosted its position in MannKind by 10.6% during the fourth quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock valued at $123,000 after purchasing an additional 1,828 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in MannKind by 10.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock valued at $181,000 after purchasing an additional 2,657 shares during the last quarter. AXQ Capital LP boosted its position in MannKind by 19.8% during the fourth quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after purchasing an additional 3,717 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in MannKind by 3.0% during the third quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after purchasing an additional 4,603 shares during the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP David Thomson sold 32,179 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value 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 $3,614,958.36. The trade was a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven B. Binder sold 80,144 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total value of $375,875.36. Following the completion of 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 company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of MannKind in a research report on Thursday, February 27th. StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Finally, Mizuho assumed coverage on MannKind in a research report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MannKind has a consensus rating of "Buy" and an average target price of $10.00.

MannKind Stock Performance

Shares of NASDAQ:MNKD traded up $0.10 during midday trading on Monday, reaching $4.47. The company's stock had a trading volume of 760,693 shares, compared to its average volume of 2,378,002. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 63.79 and a beta of 1.14. The firm has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $5.74. MannKind Co. has a fifty-two week low of $4.34 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The company had revenue of $78.35 million for the quarter, compared to the consensus estimate of $75.86 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The firm's revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. As a group, research analysts anticipate 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.