MannKind (NASDAQ:MNKD) Stock Price Crosses Above 200 Day Moving Average of $3.90

MannKind Co. (NASDAQ:MNKD)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.90 and traded as high as $4.21. MannKind shares last traded at $4.12, with a volume of 1,600,919 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MNKD shares. Cantor Fitzgerald reissued an “overweight” rating and set a $6.50 target price on shares of MannKind in a report on Friday, March 15th. Wedbush reiterated an “outperform” rating and issued a $10.00 price objective on shares of MannKind in a research note on Wednesday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $7.50 price target on shares of MannKind in a research note on Thursday, January 4th.

MannKind Trading Down 0.7 %

The business has a fifty day moving average of $4.24 and a 200-day moving average of $3.90. The firm has a market cap of $1.12 billion, a PE ratio of -82.40 and a beta of 1.28.

MannKind (NASDAQ:MNKD) last released its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $52.36 million. On average, equities analysts forecast that MannKind Co. will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in 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 valued at $64,372,000 after purchasing an additional 8,331,058 shares during the period. Millennium Management LLC increased its stake in shares of MannKind by 144.6% in the fourth quarter. Millennium Management LLC now owns 6,249,939 shares of the biopharmaceutical company’s stock worth $32,937,000 after purchasing an additional 3,695,224 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of MannKind by 786.7% in the first quarter. Two Sigma Advisers LP now owns 2,048,427 shares of the biopharmaceutical company’s stock worth $8,399,000 after purchasing an additional 1,817,400 shares in the last quarter. Two Sigma Investments LP grew its stake in MannKind by 106.6% during the first quarter. Two Sigma Investments LP now owns 3,071,455 shares of the biopharmaceutical company’s stock valued at $12,593,000 after acquiring an additional 1,584,567 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in MannKind by 108.3% during the first quarter. Bank of America Corp DE now owns 2,838,103 shares of the biopharmaceutical company’s stock valued at $11,636,000 after acquiring an additional 1,475,480 shares in the last quarter. Institutional investors own 49.55% 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, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.