XTX Topco Ltd Reduces Stock Position in MannKind Co. (NASDAQ:MNKD)

XTX Topco Ltd decreased its stake in shares of MannKind Co. (NASDAQ:MNKD) by 13.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,137 shares of the biopharmaceutical company’s stock after selling 3,527 shares during the quarter. XTX Topco Ltd’s holdings in MannKind were worth $116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNKD. TSP Capital Management Group LLC boosted its position in shares of MannKind by 196.0% during the 2nd quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock valued at $12,486,000 after acquiring an additional 1,583,800 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in MannKind by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 2,498,624 shares of the biopharmaceutical company’s stock worth $9,095,000 after purchasing an additional 429,677 shares during the period. Dimensional Fund Advisors LP acquired a new position in MannKind in the 2nd quarter valued at about $1,524,000. 180 Wealth Advisors LLC grew its stake in shares of MannKind by 12.6% in the 1st 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, GSA Capital Partners LLP increased its holdings in shares of MannKind by 25.0% during the 1st quarter. GSA Capital Partners LLP now owns 625,410 shares of the biopharmaceutical company’s stock worth $2,833,000 after buying an additional 124,888 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

Analyst Ratings Changes

MNKD has been the subject of several analyst reports. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Rodman & Renshaw began coverage on MannKind in a report on Thursday, June 13th. They set a “buy” rating and a $8.00 price target for the company. Leerink Partners started coverage on shares of MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price objective on the stock. Finally, Oppenheimer increased their target price on shares of MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Price Performance

NASDAQ MNKD opened at $6.26 on Wednesday. The company has a market cap of $1.70 billion, a P/E ratio of 208.67 and a beta of 1.32. The stock has a 50-day moving average of $5.83 and a two-hundred day moving average of $5.11. MannKind Co. has a 1-year low of $3.17 and a 1-year high of $6.92.

MannKind (NASDAQ:MNKD) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. MannKind had a net margin of 4.73% and a negative return on equity of 11.97%. The firm had revenue of $72.39 million for the quarter, compared to the consensus estimate of $64.81 million. During the same period in the prior year, the firm earned ($0.02) EPS. The firm’s revenue for the quarter was up 48.9% on a year-over-year basis. On average, analysts anticipate that MannKind Co. will post 0.11 EPS for the current fiscal year.

Insider Activity

In other MannKind news, EVP Steven B. Binder sold 5,055 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the sale, the executive vice president now owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael Castagna sold 85,106 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total value of $536,167.80. Following the sale, the chief executive officer now directly owns 2,294,836 shares in the company, valued at approximately $14,457,466.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven B. Binder sold 5,055 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the transaction, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at approximately $6,385,654.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,997 shares of company stock worth $1,245,912. Corporate insiders own 3.00% of the company’s stock.

MannKind 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.