Gotham Asset Management LLC Grows Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Gotham Asset Management LLC increased its stake in shares of MannKind Co. (NASDAQ:MNKD) by 22.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,066 shares of the biopharmaceutical company’s stock after purchasing an additional 9,717 shares during the period. Gotham Asset Management LLC’s holdings in MannKind were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Graham Capital Management L.P. purchased a new stake in MannKind during the fourth quarter valued at approximately $10,229,000. Deutsche Bank AG increased its holdings in MannKind by 17.0% during the fourth quarter. Deutsche Bank AG now owns 509,738 shares of the biopharmaceutical company’s stock valued at $3,278,000 after buying an additional 74,018 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in MannKind by 23.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,269,063 shares of the biopharmaceutical company’s stock valued at $27,450,000 after buying an additional 798,469 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in MannKind during the fourth quarter valued at approximately $112,000. Finally, Bank of America Corp DE increased its holdings in MannKind by 29.5% during the fourth quarter. Bank of America Corp DE now owns 3,364,313 shares of the biopharmaceutical company’s stock valued at $21,633,000 after buying an additional 765,483 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $4.36 on Wednesday. The firm has a fifty day moving average price of $4.81 and a 200-day moving average price of $5.71. The stock has a market cap of $1.33 billion, a PE ratio of 62.29 and a beta of 1.14. MannKind Co. has a 1 year low of $4.34 and a 1 year high of $7.63.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The firm had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same period in the prior year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts expect that MannKind Co. will post 0.1 EPS for the current year.

Insider Buying and Selling

In related news, EVP David Thomson sold 32,179 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total transaction of $150,597.72. Following the completion of the transaction, the executive vice president now owns 772,427 shares in the company, valued at approximately $3,614,958.36. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Binder sold 12,078 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.40, for a total transaction of $53,143.20. Following the transaction, the director now owns 989,343 shares of the company’s stock, valued at approximately $4,353,109.20. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 126,746 shares of company stock worth $589,958. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on MNKD shares. Mizuho started coverage on shares of MannKind in a report on Thursday, April 10th. They set an “outperform” rating and a $12.00 target price for the company. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $10.00.

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.