Deutsche Bank AG Cuts Stake in MannKind Corporation $MNKD

Deutsche Bank AG lowered its position in shares of MannKind Corporation (NASDAQ:MNKD) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,683 shares of the biopharmaceutical company’s stock after selling 27,055 shares during the quarter. Deutsche Bank AG owned 0.16% of MannKind worth $2,428,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in MannKind by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company’s stock worth $87,131,000 after buying an additional 1,263,622 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of MannKind during the 1st quarter worth $51,000. Jefferies Financial Group Inc. acquired a new position in shares of MannKind during the 1st quarter worth $79,000. XTX Topco Ltd grew its stake in shares of MannKind by 17.3% during the 1st quarter. XTX Topco Ltd now owns 79,050 shares of the biopharmaceutical company’s stock worth $398,000 after purchasing an additional 11,654 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of MannKind by 46.6% during the 1st quarter. Mackenzie Financial Corp now owns 117,638 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 37,420 shares during the period. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. HC Wainwright raised shares of MannKind to a “buy” rating and set a $9.00 price target on the stock in a research note on Wednesday, July 16th. Royal Bank Of Canada lowered their price target on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen cut shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.71.

MannKind Trading Up 0.3%

Shares of NASDAQ MNKD opened at $3.97 on Thursday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 36.09 and a beta of 1.02. MannKind Corporation has a 52 week low of $3.38 and a 52 week high of $7.63. The company’s 50-day moving average price is $3.79 and its 200 day moving average price is $4.51.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $76.53 million for the quarter, compared to analysts’ expectations of $77.82 million. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. As a group, research analysts expect that MannKind Corporation will post 0.1 earnings per share for the current year.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 75,367 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $3.94, for a total value of $296,945.98. Following the transaction, the director directly owned 830,508 shares in the company, valued at approximately $3,272,201.52. This represents a 8.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

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.