MannKind (NASDAQ:MNKD) EVP Sanjay Singh Sells 18,777 Shares

MannKind Corporation (NASDAQ:MNKD) EVP Sanjay Singh sold 18,777 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the sale, the executive vice president owned 455,211 shares in the company, valued at $2,289,711.33. The trade was a 3.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

MannKind Trading Down 0.2%

NASDAQ MNKD traded down $0.01 on Friday, hitting $5.06. 3,460,552 shares of the company were exchanged, compared to its average volume of 3,100,386. MannKind Corporation has a 1-year low of $3.38 and a 1-year high of $7.07. The firm has a 50 day moving average of $5.43 and a two-hundred day moving average of $4.58. The company has a market cap of $1.55 billion, a P/E ratio of 46.00 and a beta of 1.11.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MNKD. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a report on Monday. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wells Fargo & Company lowered their price objective on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Royal Bank Of Canada lowered their price target on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday. 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 company. Based on data from MarketBeat.com, MannKind has a consensus rating of “Moderate Buy” and an average price target of $10.21.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP acquired a new position in MannKind during the third quarter worth $61,297,000. Nuveen LLC acquired a new stake in MannKind in the 1st quarter valued at $17,011,000. UBS Group AG lifted its position in MannKind by 146.7% during the 3rd quarter. UBS Group AG now owns 5,194,739 shares of the biopharmaceutical company’s stock worth $27,896,000 after buying an additional 3,088,820 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of MannKind by 316.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,467,721 shares of the biopharmaceutical company’s stock worth $18,622,000 after buying an additional 2,634,533 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of MannKind by 68.9% in the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock valued at $29,288,000 after acquiring an additional 2,375,198 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

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.