MannKind Corporation $MNKD Shares Purchased by TSP Capital Management Group LLC

TSP Capital Management Group LLC raised its position in shares of MannKind Corporation (NASDAQ:MNKD) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,982,575 shares of the biopharmaceutical company’s stock after purchasing an additional 201,225 shares during the quarter. MannKind comprises 3.5% of TSP Capital Management Group LLC’s portfolio, making the stock its 13th largest holding. TSP Capital Management Group LLC owned about 0.97% of MannKind worth $11,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MNKD. Vanguard Group Inc. boosted its stake in MannKind by 7.9% during the first quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company’s stock valued at $87,131,000 after buying an additional 1,263,622 shares in the last quarter. Geode Capital Management LLC raised its position in MannKind by 12.3% in the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock worth $28,494,000 after acquiring an additional 831,478 shares in the last quarter. Millennium Management LLC lifted its holdings in 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 during the last quarter. Nuveen LLC acquired a new stake in MannKind during the first quarter valued at approximately $17,011,000. Finally, 180 Wealth Advisors LLC increased its holdings in shares of MannKind by 17.6% in the second quarter. 180 Wealth Advisors LLC now owns 2,582,010 shares of the biopharmaceutical company’s stock valued at $9,657,000 after buying an additional 387,306 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

Insiders Place Their Bets

In other MannKind news, insider Stuart A. Tross sold 47,000 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $5.34, for a total value of $250,980.00. Following the completion of the sale, the insider owned 1,032,013 shares of the company’s stock, valued at $5,510,949.42. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sanjay R. Singh sold 18,777 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MNKD. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Oppenheimer upped 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. Leerink Partners assumed coverage on shares of MannKind in a research report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada reduced their target price on MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.21.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $5.06 on Wednesday. MannKind Corporation has a one year low of $3.38 and a one year high of $7.07. The business’s 50-day moving average price is $5.41 and its two-hundred day moving average price is $4.58. The company has a market capitalization 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 results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $82.13 million during the quarter, compared to the consensus estimate of $80.47 million. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, equities analysts anticipate that MannKind Corporation 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.