Voya Investment Management LLC Sells 86,155 Shares of MannKind Co. (NASDAQ:MNKD)

Voya Investment Management LLC lowered its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 517,460 shares of the biopharmaceutical company's stock after selling 86,155 shares during the quarter. Voya Investment Management LLC owned approximately 0.19% of MannKind worth $3,327,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MNKD. E Fund Management Co. Ltd. raised its holdings in MannKind by 9.0% during the 4th quarter. E Fund Management Co. Ltd. now owns 22,039 shares of the biopharmaceutical company's stock worth $142,000 after purchasing an additional 1,828 shares during the last quarter. Xponance Inc. grew its position in shares of MannKind by 10.6% during the 4th quarter. Xponance Inc. now owns 19,067 shares of the biopharmaceutical company's stock worth $123,000 after buying an additional 1,828 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of MannKind by 10.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after buying an additional 2,657 shares during the last quarter. AXQ Capital LP lifted its holdings in MannKind by 19.8% in the fourth quarter. AXQ Capital LP now owns 22,530 shares of the biopharmaceutical company's stock valued at $145,000 after buying an additional 3,717 shares during the period. Finally, Franklin Resources Inc. boosted its stake in MannKind by 3.0% in the third quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after acquiring an additional 4,603 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Stock Performance

MNKD stock traded up $0.05 during midday trading on Friday, hitting $5.00. 1,639,769 shares of the company's stock were exchanged, compared to its average volume of 2,389,147. MannKind Co. has a one year low of $4.17 and a one year high of $7.63. The company has a market cap of $1.52 billion, a PE ratio of 71.43 and a beta of 1.14. The stock's fifty day moving average price is $4.94 and its 200-day moving average price is $5.88.

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 the consensus estimate of $0.03. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $76.78 million for the quarter, compared to analysts' expectations of $74.99 million. On average, analysts expect that MannKind Co. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MNKD shares. Wedbush reissued an "outperform" rating and issued a $11.00 price target on shares of MannKind in a research note on Thursday, February 27th. Mizuho assumed coverage on MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price objective for the company. Finally, StockNews.com upgraded MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Eight 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, the company has a consensus rating of "Buy" and a consensus price target of $9.56.

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.