Shares of MannKind Co. (NASDAQ:MNKD – Get Rating) fell 3.6% during trading on Friday . The stock traded as low as $4.78 and last traded at $4.80. 98,848 shares were traded during mid-day trading, a decline of 98% from the average session volume of 4,012,624 shares. The stock had previously closed at $4.98.
Wall Street Analyst Weigh In
Several research firms recently commented on MNKD. StockNews.com upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research note on Friday, November 11th. SVB Leerink upped their price target on shares of MannKind from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 9th.
MannKind Price Performance
The company’s 50-day moving average is $4.71 and its two-hundred day moving average is $4.01. The firm has a market cap of $1.27 billion, a P/E ratio of -12.71 and a beta of 1.69.
Institutional Investors Weigh In On MannKind
Several institutional investors and hedge funds have recently bought and sold shares of MNKD. State Street Corp lifted its position in MannKind by 66.6% during the third quarter. State Street Corp now owns 20,832,244 shares of the biopharmaceutical company’s stock worth $64,372,000 after purchasing an additional 8,331,058 shares during the period. FMR LLC lifted its holdings in shares of MannKind by 24.2% in the second quarter. FMR LLC now owns 6,585,994 shares of the biopharmaceutical company’s stock worth $25,093,000 after acquiring an additional 1,284,286 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of MannKind by 350.7% in the second quarter. Millennium Management LLC now owns 1,200,202 shares of the biopharmaceutical company’s stock worth $4,573,000 after acquiring an additional 933,915 shares during the last quarter. Barclays PLC lifted its holdings in shares of MannKind by 5,118.0% in the third quarter. Barclays PLC now owns 908,615 shares of the biopharmaceutical company’s stock worth $2,808,000 after acquiring an additional 891,202 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of MannKind by 95.9% in the third quarter. Renaissance Technologies LLC now owns 1,396,346 shares of the biopharmaceutical company’s stock worth $4,315,000 after acquiring an additional 683,450 shares during the last quarter. Institutional investors own 49.16% of the company’s stock.
MannKind Company 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. It also promotes Thyquidity to adult and pediatric endocrinologists, and other healthcare providers for the treatment of hypothyroidism.
- Get a free copy of the StockNews.com research report on MannKind (MNKD)
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