Calamos Advisors LLC Acquires New Position in MannKind Corporation $MNKD

Calamos Advisors LLC acquired a new stake in shares of MannKind Corporation (NASDAQ:MNKD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 230,911 shares of the biopharmaceutical company’s stock, valued at approximately $1,240,000. Calamos Advisors LLC owned approximately 0.08% of MannKind as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MNKD. Millennium Management LLC grew its holdings in shares of 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 buying an additional 2,375,198 shares during the last quarter. Geode Capital Management LLC boosted its stake in MannKind by 12.3% during the 2nd quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock valued at $28,494,000 after purchasing an additional 831,478 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of MannKind by 25.5% in the 2nd 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 shares of MannKind in the 2nd quarter worth $2,599,000. Finally, JPMorgan Chase & Co. raised its stake in shares of MannKind by 42.7% in the second quarter. JPMorgan Chase & Co. now owns 1,352,017 shares of the biopharmaceutical company’s stock worth $5,057,000 after purchasing an additional 404,842 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

MannKind Trading Up 0.2%

Shares of NASDAQ MNKD opened at $5.67 on Friday. MannKind Corporation has a 12-month low of $3.38 and a 12-month high of $6.68. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 56.70 and a beta of 0.81. The firm has a 50 day moving average of $5.55 and a 200 day moving average of $4.86.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. The business had revenue of $82.13 million for the quarter, compared to analysts’ expectations of $80.47 million. During the same quarter last year, the company posted $0.04 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. Sell-side analysts predict that MannKind Corporation will post 0.1 EPS for the current year.

Insider Buying and Selling at MannKind

In other news, CEO Michael Castagna sold 107,920 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $5.57, for a total value of $601,114.40. Following the transaction, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at $13,951,691.44. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sanjay R. Singh sold 18,777 shares of MannKind stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $5.03, for a total value of $94,448.31. Following the transaction, the executive vice president directly 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 234,617 shares of company stock worth $1,343,741 over the last quarter. 2.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

MNKD has been the topic of several recent analyst reports. Leerink Partners assumed coverage on MannKind in a research report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of MannKind in a research note on Wednesday, October 8th. Truist Financial set a $9.00 price target on shares of MannKind in a research note on Monday, November 24th. Oppenheimer increased their price objective on shares of MannKind from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company dropped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, MannKind has a consensus rating of “Moderate Buy” and an average price target of $10.06.

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.