HighTower Advisors LLC Has $197,000 Stock Position in MannKind Corporation $MNKD

HighTower Advisors LLC cut its holdings in shares of MannKind Corporation (NASDAQ:MNKD) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,135 shares of the biopharmaceutical company’s stock after selling 8,047 shares during the quarter. HighTower Advisors LLC’s holdings in MannKind were worth $197,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MNKD. Dimensional Fund Advisors LP increased its holdings in shares of MannKind by 40.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,219 shares of the biopharmaceutical company’s stock worth $19,022,000 after acquiring an additional 855,261 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of MannKind by 49.7% during the 4th quarter. Hsbc Holdings PLC now owns 31,327 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 10,407 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MannKind by 12.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 175,009 shares of the biopharmaceutical company’s stock worth $1,126,000 after acquiring an additional 18,806 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of MannKind by 8.1% during the 4th quarter. Northern Trust Corp now owns 2,777,784 shares of the biopharmaceutical company’s stock worth $17,861,000 after buying an additional 207,792 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of MannKind by 145.4% during the 4th quarter. Ameriprise Financial Inc. now owns 43,685 shares of the biopharmaceutical company’s stock worth $281,000 after buying an additional 25,880 shares during the period. 49.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MannKind

In other news, Director Steven B. Binder sold 75,367 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $3.94, for a total transaction of $296,945.98. Following the completion of the sale, the director owned 830,508 shares of the company’s stock, valued at approximately $3,272,201.52. This represents a 8.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

MannKind Price Performance

MNKD opened at $5.34 on Friday. The business has a fifty day simple moving average of $3.96 and a 200 day simple moving average of $4.44. The company has a market capitalization of $1.64 billion, a PE ratio of 48.55 and a beta of 1.02. MannKind Corporation has a 1 year low of $3.38 and a 1 year high of $7.63.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $76.53 million during the quarter, compared to the consensus estimate of $77.82 million. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS. Equities analysts anticipate that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Royal Bank Of Canada lifted their target price on shares of MannKind from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, August 26th. Wells Fargo & Company boosted their price target on MannKind from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, HC Wainwright boosted their price target on MannKind from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.00.

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.