MannKind Co. (NASDAQ:MNKD - Get Free Report) Director Steven B. Binder sold 67,536 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at $7,406,929.14. This trade represents a 5.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
MannKind Price Performance
MNKD stock opened at $6.72 on Tuesday. MannKind Co. has a 1-year low of $3.17 and a 1-year high of $7.63. The business has a 50-day moving average price of $6.71 and a 200 day moving average price of $5.78. The company has a market capitalization of $1.85 billion, a P/E ratio of 96.00 and a beta of 1.30.
Institutional Investors Weigh In On MannKind
Large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of MannKind by 401.8% during the third quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock valued at $1,060,000 after purchasing an additional 134,937 shares in the last quarter. International Assets Investment Management LLC boosted its position in MannKind by 511.6% during the 3rd quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company's stock valued at $558,000 after acquiring an additional 74,189 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of MannKind in the 3rd quarter valued at $546,000. Bank of New York Mellon Corp raised its position in shares of MannKind by 14.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company's stock worth $4,778,000 after acquiring an additional 115,390 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of MannKind by 15.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company's stock worth $11,859,000 after purchasing an additional 251,587 shares during the last quarter. Institutional investors own 49.55% of the company's stock.
Analyst Ratings Changes
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A number of research analysts have recently commented on the company. Oppenheimer upped their target price on MannKind from $10.00 to $12.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Leerink Partners began coverage on MannKind in a research note on Monday, September 9th. They issued an "outperform" rating and a $8.00 target price on the stock. StockNews.com lowered shares of MannKind from a "buy" rating to a "hold" rating in a research note on Thursday, November 21st. Finally, Leerink Partnrs raised shares of MannKind to a "strong-buy" rating in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $8.67.
Read Our Latest Report on MNKD
About MannKind
(
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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.
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