Renaissance Technologies LLC purchased a new position in shares of MannKind Co. (NASDAQ:MNKD – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,745 shares of the biopharmaceutical company’s stock, valued at approximately $67,000.
Several other large investors have also modified their holdings of MNKD. Susquehanna Fundamental Investments LLC bought a new position in MannKind in the first quarter worth about $450,000. Bank of New York Mellon Corp lifted its holdings in MannKind by 14.4% in the second quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after acquiring an additional 115,390 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in MannKind in the second quarter worth about $1,524,000. 180 Wealth Advisors LLC lifted its holdings in MannKind by 12.6% in the first quarter. 180 Wealth Advisors LLC now owns 1,942,210 shares of the biopharmaceutical company’s stock worth $8,798,000 after acquiring an additional 216,880 shares during the last quarter. Finally, Virtu Financial LLC lifted its holdings in MannKind by 87.2% in the fourth quarter. Virtu Financial LLC now owns 96,066 shares of the biopharmaceutical company’s stock worth $350,000 after acquiring an additional 44,737 shares during the last quarter. Institutional investors own 49.55% of the company’s stock.
Insiders Place Their Bets
In other MannKind news, insider Stuart A. Tross sold 25,000 shares of MannKind stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total value of $156,500.00. Following the transaction, the insider now owns 1,022,191 shares in the company, valued at approximately $6,398,915.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other MannKind news, insider Stuart A. Tross sold 25,000 shares of MannKind stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.26, for a total value of $156,500.00. Following the transaction, the insider now owns 1,022,191 shares in the company, valued at approximately $6,398,915.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven B. Binder sold 5,055 shares of MannKind stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,161 shares of company stock worth $1,229,095. 3.00% of the stock is owned by insiders.
MannKind Price Performance
MannKind (NASDAQ:MNKD – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. MannKind had a net margin of 4.73% and a negative return on equity of 11.97%. The business had revenue of $72.39 million for the quarter, compared to analyst estimates of $64.81 million. During the same quarter last year, the business earned ($0.02) earnings per share. The business’s revenue for the quarter was up 48.9% on a year-over-year basis. Sell-side analysts anticipate that MannKind Co. will post 0.11 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have issued reports on MNKD. Leerink Partners began coverage on shares of MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price on the stock. Oppenheimer raised their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MannKind currently has an average rating of “Buy” and an average target price of $8.67.
Get Our Latest Stock Analysis on MNKD
About MannKind
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.
Recommended Stories
- Five stocks we like better than MannKind
- 3 Small Caps With Big Return Potential
- Whirlpool’s High Dividend Yield Is Too Good to Pass Up
- About the Markup Calculator
- Holiday Spending Boom Ahead: 3 BNPL Stocks Poised for Gains
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Boeing: A Perfect Storm of Trouble Is a Loaded Buying Opportunity
Want to see what other hedge funds are holding MNKD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MannKind Co. (NASDAQ:MNKD – Free Report).
Receive News & Ratings for MannKind Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MannKind and related companies with MarketBeat.com's FREE daily email newsletter.