MannKind Corporation $MNKD Shares Purchased by Deltec Asset Management LLC

Deltec Asset Management LLC increased its stake in shares of MannKind Corporation (NASDAQ:MNKD) by 34.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 974,700 shares of the biopharmaceutical company’s stock after acquiring an additional 251,200 shares during the period. MannKind comprises 0.9% of Deltec Asset Management LLC’s holdings, making the stock its 24th largest position. Deltec Asset Management LLC owned approximately 0.32% of MannKind worth $5,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC acquired a new stake in MannKind during the fourth quarter worth about $59,000. Swiss Life Asset Management Ltd acquired a new stake in MannKind during the third quarter worth about $72,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in MannKind during the fourth quarter worth about $74,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in MannKind by 25.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,922 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 3,060 shares during the period. Finally, CTC Alternative Strategies Ltd. acquired a new stake in MannKind during the third quarter worth about $88,000. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Stock Performance

Shares of MNKD opened at $2.70 on Monday. MannKind Corporation has a 12 month low of $2.23 and a 12 month high of $6.51. The stock’s 50 day moving average is $3.09 and its two-hundred day moving average is $4.70. The firm has a market cap of $833.76 million, a P/E ratio of 135.07 and a beta of 1.04.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). MannKind had a net margin of 1.68% and a negative return on equity of 11.21%. The business had revenue of $111.96 million during the quarter, compared to analyst estimates of $99.85 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities research analysts forecast that MannKind Corporation will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MNKD. Weiss Ratings lowered MannKind from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $3.50 target price (down from $7.50) on shares of MannKind in a report on Friday, February 27th. Mizuho dropped their target price on MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Wedbush dropped their price objective on MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Finally, Wall Street Zen lowered MannKind from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.56.

Insider Buying and Selling

In other MannKind news, CEO Michael Castagna acquired 100,000 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of $2.59 per share, with a total value of $259,000.00. Following the completion of the acquisition, the chief executive officer owned 2,575,911 shares in the company, valued at approximately $6,671,609.49. This trade represents a 4.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

MannKind Company 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.