MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder Sells 67,536 Shares

MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder sold 67,536 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.89, for a total value of $465,323.04. Following the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. This 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 is accessible through this link.

MannKind Stock Performance

Shares of MNKD opened at $6.72 on Tuesday. MannKind Co. has a fifty-two week low of $3.17 and a fifty-two week high of $7.63. The company’s fifty day moving average is $6.71 and its 200 day moving average is $5.78. The stock has a market capitalization of $1.85 billion, a PE ratio of 96.00 and a beta of 1.30.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Leerink Partners initiated coverage on MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Oppenheimer lifted their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.67.

Institutional Trading of MannKind

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of MannKind by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company’s stock valued at $39,880,000 after acquiring an additional 24,031 shares during the last quarter. Barclays PLC raised its position in MannKind by 186.0% during the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company’s stock valued at $3,271,000 after purchasing an additional 338,121 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of MannKind in the 3rd quarter valued at approximately $413,000. XTX Topco Ltd boosted its holdings in shares of MannKind by 104.4% in the 3rd quarter. XTX Topco Ltd now owns 45,248 shares of the biopharmaceutical company’s stock worth $285,000 after purchasing an additional 23,111 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of MannKind by 14.8% in the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,783 shares during the period. 49.55% of the stock is currently owned by institutional investors.

About MannKind

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.