MannKind Corporation (NASDAQ:MNKD) Director Steven B. Binder Sells 75,367 Shares

MannKind Corporation (NASDAQ:MNKD - Get Free Report) Director Steven B. Binder sold 75,367 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $3.94, for a total value of $296,945.98. Following the sale, the director owned 830,508 shares in the company, valued at $3,272,201.52. The trade was a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

MannKind Stock Down 1.5%

Shares of NASDAQ:MNKD traded down $0.06 during trading on Thursday, hitting $3.90. The stock had a trading volume of 1,884,933 shares, compared to its average volume of 2,431,991. MannKind Corporation has a 12 month low of $3.51 and a 12 month high of $7.63. The company has a market capitalization of $1.19 billion, a PE ratio of 39.00 and a beta of 0.96. The firm's fifty day moving average is $4.03 and its 200 day moving average is $4.90.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The firm had revenue of $78.35 million for the quarter, compared to analysts' expectations of $75.86 million. MannKind had a net margin of 10.12% and a negative return on equity of 32.41%. The company's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.05 EPS. Equities research analysts expect that MannKind Corporation will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

MNKD has been the subject of a number of recent analyst reports. HC Wainwright upgraded MannKind to a "buy" rating and set a $9.00 target price for the company in a research report on Wednesday. Wall Street Zen cut shares of MannKind from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Mizuho assumed coverage on MannKind in a report on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $10.14.

Institutional Investors Weigh In On MannKind

Several hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in shares of MannKind by 358.6% in the 4th quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock worth $1,411,000 after buying an additional 171,537 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of MannKind by 275.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after acquiring an additional 3,587,484 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of MannKind by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock worth $14,597,000 after purchasing an additional 45,277 shares during the last quarter. Cibc World Markets Corp purchased a new stake in MannKind during the 4th quarter valued at about $162,000. Finally, KLP Kapitalforvaltning AS bought a new stake in MannKind during the 4th quarter valued at about $343,000. Institutional investors own 49.55% of the company's stock.

MannKind Company 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.

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