Apollo Management Holdings L.P. Sells 300,000 Shares of MannKind Co. (NASDAQ:MNKD)

Apollo Management Holdings L.P. lowered its position in shares of MannKind Co. (NASDAQ:MNKD) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 664,113 shares of the biopharmaceutical company’s stock after selling 300,000 shares during the period. MannKind makes up approximately 0.1% of Apollo Management Holdings L.P.’s portfolio, making the stock its 22nd largest position. Apollo Management Holdings L.P. owned approximately 0.24% of MannKind worth $4,270,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MNKD. Vanguard Group Inc. grew its position in shares of MannKind by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company’s stock valued at $103,257,000 after acquiring an additional 420,334 shares during the period. Geode Capital Management LLC grew its position in shares of MannKind by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company’s stock valued at $40,996,000 after acquiring an additional 35,346 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of MannKind by 275.9% during the 4th 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 during the period. Dimensional Fund Advisors LP grew its position in shares of MannKind by 40.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,219 shares of the biopharmaceutical company’s stock valued at $19,022,000 after acquiring an additional 855,261 shares during the period. Finally, Northern Trust Corp grew its position in shares of MannKind by 8.1% during the 4th quarter. Northern Trust Corp now owns 2,777,784 shares of the biopharmaceutical company’s stock valued at $17,861,000 after acquiring an additional 207,792 shares during the period. Institutional investors own 49.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MNKD shares. Mizuho started coverage on MannKind in a report on Thursday, April 10th. They set an “outperform” rating and a $12.00 price target on the stock. StockNews.com upgraded MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Finally, Wedbush restated an “outperform” rating and set a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $9.56.

MannKind Stock Performance

NASDAQ MNKD opened at $4.91 on Wednesday. The company has a market cap of $1.49 billion, a P/E ratio of 70.14 and a beta of 1.22. The business’s 50 day moving average price is $4.98 and its 200-day moving average price is $5.92. MannKind Co. has a fifty-two week low of $4.11 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. As a group, equities analysts predict that MannKind Co. will post 0.1 EPS for the current 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.