Universal Beteiligungs und Servicegesellschaft mbH Purchases New Stake in MannKind Corporation (NASDAQ:MNKD)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in MannKind Corporation (NASDAQ:MNKD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,528 shares of the biopharmaceutical company’s stock, valued at approximately $123,000.

A number of other hedge funds also recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in MannKind in the 4th quarter valued at approximately $37,000. Sowell Financial Services LLC acquired a new stake in MannKind during the 1st quarter worth approximately $56,000. Kovitz Investment Group Partners LLC acquired a new position in MannKind in the 4th quarter valued at $65,000. Waverly Advisors LLC acquired a new position in MannKind in the 4th quarter valued at $72,000. Finally, KBC Group NV acquired a new position in shares of MannKind during the 1st quarter worth $72,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

Wall Street Analysts Forecast Growth

MNKD has been the topic of a number of research reports. Wall Street Zen lowered MannKind from a “buy” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada cut their price target on MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Mizuho started coverage on MannKind in a research note on Thursday, April 10th. They issued an “outperform” rating and a $12.00 price objective for the company. Finally, HC Wainwright raised MannKind to a “buy” rating and set a $9.00 price target for the company in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $9.86.

Insider Transactions at MannKind

In related news, Director Steven B. Binder sold 80,144 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $4.69, for a total transaction of $375,875.36. Following the transaction, the director owned 1,006,611 shares in the company, valued at $4,721,005.59. The trade was a 7.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Thomson sold 32,179 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $4.68, for a total value of $150,597.72. Following the transaction, the executive vice president owned 772,427 shares in the company, valued at $3,614,958.36. This trade represents a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,198 shares of company stock worth $1,143,244. 3.00% of the stock is owned by company insiders.

MannKind Stock Performance

NASDAQ:MNKD opened at $3.99 on Wednesday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 39.90 and a beta of 1.02. MannKind Corporation has a 52-week low of $3.51 and a 52-week high of $7.63. The stock has a fifty day moving average of $3.90 and a 200 day moving average of $4.68.

MannKind (NASDAQ:MNKD) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. MannKind had a negative return on equity of 32.41% and a net margin of 10.12%. The company had revenue of $78.35 million during the quarter, compared to analyst estimates of $75.86 million. During the same quarter in the previous year, the company posted $0.05 EPS. MannKind’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities analysts forecast that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

MannKind Company 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.