Los Angeles Capital Management LLC Buys 177,440 Shares of MannKind Corporation $MNKD

Los Angeles Capital Management LLC lifted its position in MannKind Corporation (NASDAQ:MNKD) by 68.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 437,316 shares of the biopharmaceutical company’s stock after buying an additional 177,440 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.14% of MannKind worth $1,636,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. E Fund Management Co. Ltd. boosted its position in shares of MannKind by 11.9% during the 1st quarter. E Fund Management Co. Ltd. now owns 24,667 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 2,628 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in MannKind by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 77,726 shares of the biopharmaceutical company’s stock worth $291,000 after buying an additional 3,506 shares in the last quarter. Palumbo Wealth Management LLC grew its position in MannKind by 4.0% during the second quarter. Palumbo Wealth Management LLC now owns 101,438 shares of the biopharmaceutical company’s stock valued at $379,000 after acquiring an additional 3,921 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of MannKind by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock worth $1,059,000 after acquiring an additional 6,079 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of MannKind by 1,379.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 6,896 shares during the last quarter. Institutional investors own 49.55% of the company’s stock.

Insider Buying and Selling at MannKind

In related news, insider Stuart A. Tross sold 47,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $5.34, for a total value of $250,980.00. Following the completion of the transaction, the insider directly owned 1,032,013 shares in the company, valued at $5,510,949.42. This trade represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

MannKind Stock Down 3.1%

Shares of MNKD stock opened at $5.25 on Wednesday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 47.73 and a beta of 1.11. The stock has a fifty day moving average of $5.45 and a 200 day moving average of $4.57. MannKind Corporation has a 52 week low of $3.38 and a 52 week high of $7.44.

MannKind (NASDAQ:MNKD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $82.13 million for the quarter, compared to analyst estimates of $80.47 million. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.04 EPS. Equities research analysts anticipate that MannKind Corporation will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a report on Monday. Wall Street Zen raised MannKind from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of MannKind in a research report on Wednesday, October 8th. Leerink Partners initiated coverage on shares of MannKind in a research note on Friday, October 10th. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, Oppenheimer increased their price target on shares of MannKind from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

About MannKind

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.