Schonfeld Strategic Advisors LLC Has $1.53 Million Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Schonfeld Strategic Advisors LLC trimmed its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 80.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 237,660 shares of the biopharmaceutical company's stock after selling 1,000,302 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.09% of MannKind worth $1,528,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. E Fund Management Co. Ltd. raised its position in shares of MannKind by 9.0% in the 4th 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 in the last quarter. Xponance Inc. boosted its holdings in shares of 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 acquiring an additional 1,828 shares during the period. Summit Investment Advisors Inc. grew its position in MannKind by 10.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after purchasing an additional 2,657 shares during the last quarter. AXQ Capital LP increased its position in MannKind by 19.8% in the 4th quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after acquiring an additional 3,717 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of 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 in the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

MannKind Price Performance

Shares of NASDAQ MNKD traded down $0.07 during midday trading on Friday, hitting $4.56. The stock had a trading volume of 2,010,363 shares, compared to its average volume of 2,381,614. The firm has a market cap of $1.39 billion, a P/E ratio of 65.14 and a beta of 1.14. MannKind Co. has a fifty-two week low of $4.23 and a fifty-two week high of $7.63. The company's 50-day simple moving average is $4.89 and its 200 day simple moving average is $5.83.

MannKind (NASDAQ:MNKD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $78.35 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. Equities analysts expect that MannKind Co. will post 0.1 EPS for the current fiscal year.

MannKind 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.