MannKind Co. (NASDAQ:MNKD) Shares Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP increased its stake in shares of MannKind Co. (NASDAQ:MNKD) by 121.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,986 shares of the biopharmaceutical company’s stock after acquiring an additional 295,953 shares during the quarter. ExodusPoint Capital Management LP owned about 0.20% of MannKind worth $2,214,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Amalgamated Bank grew its position in MannKind by 6.2% in the 4th quarter. Amalgamated Bank now owns 34,236 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 1,995 shares during the last quarter. State of Wisconsin Investment Board lifted its position in MannKind by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 245,286 shares of the biopharmaceutical company’s stock valued at $1,293,000 after purchasing an additional 2,250 shares during the period. American International Group Inc. boosted its holdings in MannKind by 1.9% in the 4th quarter. American International Group Inc. now owns 120,414 shares of the biopharmaceutical company’s stock valued at $635,000 after purchasing an additional 2,252 shares in the last quarter. American Century Companies Inc. boosted its holdings in MannKind by 17.2% in the 4th quarter. American Century Companies Inc. now owns 16,529 shares of the biopharmaceutical company’s stock valued at $87,000 after purchasing an additional 2,424 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in MannKind by 2.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 149,073 shares of the biopharmaceutical company’s stock valued at $611,000 after purchasing an additional 2,865 shares in the last quarter. 49.95% of the stock is owned by institutional investors and hedge funds.

MannKind Stock Performance

Shares of NASDAQ:MNKD opened at $4.61 on Friday. The business’s fifty day moving average price is $4.50 and its two-hundred day moving average price is $4.42. The stock has a market cap of $1.24 billion, a PE ratio of -24.26 and a beta of 1.53. MannKind Co. has a one year low of $2.91 and a one year high of $5.75.

MannKind (NASDAQ:MNKD) last announced its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The company had revenue of $48.61 million for the quarter, compared to analyst estimates of $42.03 million. As a group, equities research analysts predict that MannKind Co. will post -0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MNKD. Cantor Fitzgerald lifted their price objective on MannKind from $6.50 to $7.50 and gave the company an “overweight” rating in a report on Tuesday, August 8th. HC Wainwright upped their price target on MannKind from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Monday, August 14th. Finally, StockNews.com initiated coverage on MannKind in a report on Thursday, August 17th. They issued a “hold” rating on the stock.

Insiders Place Their Bets

In other MannKind news, CEO Michael Castagna sold 10,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $4.07, for a total transaction of $40,700.00. Following the transaction, the chief executive officer now owns 2,506,735 shares of the company’s stock, valued at approximately $10,202,411.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other MannKind news, CEO Michael Castagna sold 10,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $4.07, for a total transaction of $40,700.00. Following the transaction, the chief executive officer now owns 2,506,735 shares of the company’s stock, valued at approximately $10,202,411.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Thomson sold 8,100 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $4.78, for a total value of $38,718.00. Following the completion of the transaction, the executive vice president now directly owns 798,835 shares in the company, valued at $3,818,431.30. The disclosure for this sale can be found here. Insiders have sold a total of 28,100 shares of company stock valued at $125,118 in the last quarter. 4.00% of the stock is currently owned by company insiders.

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, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.