Eversept Partners LP Has $10.50 Million Position in MannKind Corporation $MNKD

Eversept Partners LP reduced its stake in MannKind Corporation (NASDAQ:MNKD) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,852,563 shares of the biopharmaceutical company’s stock after selling 190,164 shares during the period. Eversept Partners LP owned about 0.60% of MannKind worth $10,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Level Four Advisory Services LLC boosted its stake in shares of MannKind by 12.5% in the 3rd quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 1,925 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of MannKind by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 162,217 shares of the biopharmaceutical company’s stock valued at $871,000 after purchasing an additional 2,201 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of MannKind by 1.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 200,763 shares of the biopharmaceutical company’s stock valued at $1,138,000 after purchasing an additional 2,355 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of MannKind by 7.8% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 33,405 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 2,404 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of MannKind by 6.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 2,443 shares in the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $3.92 on Thursday. MannKind Corporation has a 1 year low of $2.23 and a 1 year high of $6.51. The company has a 50 day simple moving average of $3.19 and a 200 day simple moving average of $4.20. The firm has a market cap of $1.21 billion, a PE ratio of -55.99 and a beta of 1.13.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The firm had revenue of $90.17 million for the quarter, compared to the consensus estimate of $105.38 million. During the same quarter in the previous year, the business posted $0.04 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that MannKind Corporation will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 16,940 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $3.29, for a total transaction of $55,732.60. Following the completion of the transaction, the director owned 808,008 shares in the company, valued at approximately $2,658,346.32. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MNKD shares. Wells Fargo & Company set a $11.00 price target on shares of MannKind and gave the company an “overweight” rating in a research note on Monday, June 1st. Mizuho dropped their price objective on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. HC Wainwright raised their price objective on shares of MannKind from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada raised their price objective on shares of MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MannKind has a consensus rating of “Moderate Buy” and an average price target of $8.97.

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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).