Northwestern Mutual Wealth Management Co. Grows Position in MannKind Co. (NASDAQ:MNKD)

Northwestern Mutual Wealth Management Co. raised its position in shares of MannKind Co. (NASDAQ:MNKDGet Rating) by 277.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,056 shares of the biopharmaceutical company’s stock after buying an additional 5,189 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in MannKind were worth $27,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new stake in shares of MannKind during the second quarter valued at about $30,000. International Assets Investment Management LLC purchased a new stake in shares of MannKind during the first quarter valued at about $39,000. Steward Partners Investment Advisory LLC lifted its position in shares of MannKind by 97.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 13,422 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 6,627 shares during the last quarter. US Bancorp DE lifted its position in shares of MannKind by 53.2% during the first quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company’s stock valued at $52,000 after buying an additional 4,952 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of MannKind during the first quarter valued at about $53,000. 46.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. SVB Leerink increased their price objective on shares of MannKind from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 9th. StockNews.com raised shares of MannKind from a “sell” rating to a “hold” rating in a research report on Friday.

Insider Buying and Selling

In related news, EVP David Thomson sold 7,000 shares of the stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $3.67, for a total value of $25,690.00. Following the transaction, the executive vice president now owns 726,035 shares in the company, valued at approximately $2,664,548.45. The sale was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by corporate insiders.

MannKind Stock Down 2.7 %

Shares of MannKind stock opened at $4.26 on Tuesday. The firm has a market capitalization of $1.12 billion, a P/E ratio of -11.21 and a beta of 1.68. The company has a 50 day moving average price of $3.43 and a 200 day moving average price of $3.68. MannKind Co. has a 52 week low of $2.49 and a 52 week high of $4.99.

MannKind (NASDAQ:MNKDGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $32.83 million during the quarter, compared to analyst estimates of $25.00 million. During the same quarter last year, the company posted ($0.04) EPS. MannKind’s quarterly revenue was up 47.8% compared to the same quarter last year. As a group, research analysts anticipate that MannKind Co. will post -0.35 earnings per share for the current fiscal year.

About MannKind

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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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.

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Institutional Ownership by Quarter for MannKind (NASDAQ:MNKD)

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