Wells Fargo & Company MN Sells 209,520 Shares of MannKind Co. (NASDAQ:MNKD)

Wells Fargo & Company MN trimmed its holdings in MannKind Co. (NASDAQ:MNKD) by 18.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 924,622 shares of the biopharmaceutical company’s stock after selling 209,520 shares during the quarter. Wells Fargo & Company MN owned about 0.34% of MannKind worth $5,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MNKD. Barclays PLC grew its position in MannKind by 186.0% during the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock valued at $3,271,000 after buying an additional 338,121 shares during the period. Geode Capital Management LLC boosted its stake in shares of MannKind by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company’s stock worth $39,880,000 after acquiring an additional 24,031 shares during the last quarter. Franklin Resources Inc. grew its position in shares of MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company’s stock valued at $1,047,000 after acquiring an additional 4,603 shares during the period. Principal Financial Group Inc. increased its stake in shares of MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock worth $1,060,000 after purchasing an additional 134,937 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in MannKind by 1.0% in the 4th quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company’s stock worth $13,540,000 after purchasing an additional 21,170 shares during the period. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MNKD. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of MannKind in a research note on Thursday, February 27th. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, Mizuho began coverage on shares of MannKind in a research note on Thursday, April 10th. They set an “outperform” rating and a $12.00 target price on the stock. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $9.56.

MannKind Trading Up 0.2 %

Shares of MNKD stock opened at $4.54 on Friday. The company has a market capitalization of $1.38 billion, a P/E ratio of 64.86 and a beta of 1.22. MannKind Co. has a 12-month low of $4.06 and a 12-month high of $7.63. The business’s 50 day moving average is $5.10 and its two-hundred day moving average is $6.01.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $76.78 million during the quarter, compared to the consensus estimate of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. On average, research analysts predict that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

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.