180 Wealth Advisors LLC Increases Stock Position in MannKind Corporation $MNKD

180 Wealth Advisors LLC lifted its position in shares of MannKind Corporation (NASDAQ:MNKD) by 11.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,872,286 shares of the biopharmaceutical company’s stock after buying an additional 290,276 shares during the quarter. MannKind makes up 1.9% of 180 Wealth Advisors LLC’s holdings, making the stock its 6th largest holding. 180 Wealth Advisors LLC owned 0.94% of MannKind worth $15,424,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC raised its holdings in MannKind by 68.9% during the first quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock valued at $29,288,000 after acquiring an additional 2,375,198 shares during the period. Geode Capital Management LLC grew its position in shares of MannKind by 12.3% during the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock worth $28,494,000 after purchasing an additional 831,478 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of MannKind by 25.5% during the second quarter. Qube Research & Technologies Ltd now owns 4,065,904 shares of the biopharmaceutical company’s stock worth $15,206,000 after purchasing an additional 825,608 shares in the last quarter. Scopia Capital Management LP bought a new stake in MannKind during the 2nd quarter valued at approximately $2,599,000. Finally, Trexquant Investment LP raised its stake in MannKind by 743.3% during the 1st quarter. Trexquant Investment LP now owns 702,240 shares of the biopharmaceutical company’s stock valued at $3,532,000 after purchasing an additional 618,972 shares during the period. Institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

NASDAQ:MNKD opened at $5.79 on Friday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 57.90 and a beta of 0.82. The business has a 50 day simple moving average of $5.54 and a 200-day simple moving average of $4.82. MannKind Corporation has a 1 year low of $3.38 and a 1 year high of $6.88.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $82.13 million during the quarter, compared to analyst estimates of $80.47 million. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. MannKind’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. As a group, analysts expect that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MNKD shares. Oppenheimer increased their price objective on shares of MannKind from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of MannKind in a research report on Wednesday, October 8th. Leerink Partners started coverage on shares of MannKind in a research note on Thursday, November 13th. They set an “outperform” rating and a $7.00 target price for the company. Wells Fargo & Company reduced their price target on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.06.

Insider Activity at MannKind

In other news, CEO Michael Castagna sold 107,920 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $5.57, for a total transaction of $601,114.40. Following the transaction, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at approximately $13,951,691.44. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sanjay R. Singh sold 18,777 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the completion of the sale, the executive vice president owned 455,211 shares in the company, valued at approximately $2,289,711.33. The trade was a 3.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 234,617 shares of company stock valued at $1,343,741 in the last 90 days. Company insiders own 2.70% of the company’s stock.

MannKind Profile

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.