Citigroup Inc. Boosts Stock Position in MannKind Co. (NASDAQ:MNKD)

Citigroup Inc. grew its holdings in MannKind Co. (NASDAQ:MNKD) by 95.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,108,586 shares of the biopharmaceutical company’s stock after purchasing an additional 542,155 shares during the period. Citigroup Inc. owned about 0.42% of MannKind worth $4,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of MannKind by 6.2% in the fourth quarter. Amalgamated Bank now owns 34,236 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 1,995 shares during the last quarter. State of Wisconsin Investment Board grew its stake in MannKind by 0.9% in the 4th quarter. State of Wisconsin Investment Board now owns 245,286 shares of the biopharmaceutical company’s stock worth $1,293,000 after acquiring an additional 2,250 shares in the last quarter. American International Group Inc. raised its stake in shares of MannKind by 1.9% during the fourth quarter. American International Group Inc. now owns 120,414 shares of the biopharmaceutical company’s stock valued at $635,000 after acquiring an additional 2,252 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of MannKind by 17.2% in the fourth 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 during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in MannKind by 2.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 149,073 shares of the biopharmaceutical company’s stock worth $611,000 after purchasing an additional 2,865 shares in the last quarter. Hedge funds and other institutional investors own 49.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. HC Wainwright upped their price objective on shares of MannKind from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Monday, August 14th. Cantor Fitzgerald upped their price target on shares of MannKind from $6.50 to $7.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Finally, StockNews.com started coverage on shares of MannKind in a report on Thursday, August 17th. They set a “hold” rating on the stock.

Insider Transactions at MannKind

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

MannKind Stock Performance

Shares of MannKind stock opened at $4.63 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -24.37 and a beta of 1.57. The company has a 50-day simple moving average of $4.52 and a two-hundred day simple moving average of $4.42. MannKind Co. has a one year low of $2.91 and a one year high of $5.75.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. The firm had revenue of $48.61 million for the quarter, compared to the consensus estimate of $42.03 million. On average, equities analysts predict that MannKind Co. will post -0.07 earnings per share for the current fiscal year.

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.