MannKind (NASDAQ:MNKD) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• MannKind shares crossed above their 200-day moving average, reaching $4.36 before closing around $4.15, compared with a 200-day average of $3.66.
• Analyst sentiment remains broadly positive, with seven Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $9.22 price target.
• Quarterly revenue rose 43% year over year to $109.37 million, slightly exceeding estimates, while earnings matched expectations at a $0.01-per-share loss; an insider also sold 39,051 shares.

MannKind Corporation (NASDAQ:MNKD - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.66 and traded as high as $4.36. MannKind shares last traded at $4.15, with a volume of 3,204,412 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on MNKD. Zacks Research raised MannKind from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered MannKind from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. HC Wainwright reiterated a "buy" rating on shares of MannKind in a research note on Thursday, July 23rd. Wells Fargo & Company reduced their price target on shares of MannKind from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, August 6th. Finally, Mizuho decreased their price objective on shares of MannKind from $8.00 to $7.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, MannKind presently has an average rating of "Moderate Buy" and a consensus price target of $9.22.

MannKind Stock Down 2.6%

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -31.92 and a beta of 1.12. The company has a fifty day moving average price of $4.03 and a two-hundred day moving average price of $3.66.

MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. The business had revenue of $109.37 million for the quarter, compared to analysts' expectations of $108.08 million. During the same period in the previous year, the company posted $0.05 EPS. The company's quarterly revenue was up 43.0% on a year-over-year basis. On average, equities analysts anticipate that MannKind Corporation will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 39,051 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $4.06, for a total transaction of $158,547.06. Following the transaction, the director directly owned 785,867 shares of the company's stock, valued at approximately $3,190,620.02. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On MannKind

Several hedge funds have recently made changes to their positions in MNKD. Caitong International Asset Management Co. Ltd grew its holdings in shares of MannKind by 108.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 2,927 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in MannKind during the 4th quarter valued at approximately $45,000. Huntington National Bank lifted its position in MannKind by 420.0% during the 4th quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company's stock worth $59,000 after acquiring an additional 8,400 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in MannKind during the 4th quarter worth approximately $60,000. Finally, Lido Advisors LLC acquired a new stake in MannKind during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).

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