Mission Wealth Management LP Has $121,000 Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Mission Wealth Management LP lifted its position in shares of MannKind Co. (NASDAQ:MNKDFree Report) by 18.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,650 shares of the biopharmaceutical company’s stock after buying an additional 4,100 shares during the quarter. Mission Wealth Management LP’s holdings in MannKind were worth $121,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. TSP Capital Management Group LLC acquired a new stake in MannKind in the 1st quarter worth about $3,661,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of MannKind by 66.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 51,947 shares of the biopharmaceutical company’s stock worth $235,000 after purchasing an additional 20,767 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of MannKind by 71.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 235,886 shares of the biopharmaceutical company’s stock valued at $1,069,000 after buying an additional 98,282 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of MannKind by 12.6% in the first quarter. 180 Wealth Advisors LLC now owns 1,942,210 shares of the biopharmaceutical company’s stock valued at $8,798,000 after buying an additional 216,880 shares during the period. Finally, Virtu Financial LLC grew its position in MannKind by 87.2% during the fourth quarter. Virtu Financial LLC now owns 96,066 shares of the biopharmaceutical company’s stock worth $350,000 after buying an additional 44,737 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

MannKind Stock Performance

Shares of MNKD opened at $5.13 on Friday. MannKind Co. has a 52-week low of $3.17 and a 52-week high of $5.75. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 171.06 and a beta of 1.32. The business’s fifty day moving average is $4.72 and its 200-day moving average is $4.22.

MannKind (NASDAQ:MNKDGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $66.26 million for the quarter, compared to analyst estimates of $60.55 million. MannKind had a negative return on equity of 3.35% and a net margin of 3.78%. MannKind’s revenue was up 63.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. As a group, research analysts forecast that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on MNKD shares. Rodman & Renshaw began coverage on MannKind in a research report on Thursday, June 13th. They set a “buy” rating and a $8.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $6.50 price objective on shares of MannKind in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Check Out Our Latest Research Report on MNKD

Insider Activity at MannKind

In related news, EVP David Thomson sold 23,537 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $4.66, for a total value of $109,682.42. Following the completion of the transaction, the executive vice president now owns 873,616 shares of the company’s stock, valued at approximately $4,071,050.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

MannKind Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MannKind (NASDAQ:MNKD)

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