180 Wealth Advisors LLC Grows Stock Holdings in MannKind Co. (NASDAQ:MNKD)

180 Wealth Advisors LLC grew its position in MannKind Co. (NASDAQ:MNKD) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,105,707 shares of the biopharmaceutical company’s stock after purchasing an additional 21,170 shares during the quarter. MannKind comprises approximately 2.1% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 7th biggest position. 180 Wealth Advisors LLC owned about 0.76% of MannKind worth $13,540,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MNKD. Mirae Asset Global Investments Co. Ltd. increased its position in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 1,816 shares during the period. National Bank of Canada FI boosted its stake in shares of MannKind by 14.8% in the third quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 2,783 shares during the period. AQR Capital Management LLC grew its position in MannKind by 8.1% during the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 3,214 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in MannKind by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock worth $529,000 after acquiring an additional 3,374 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in MannKind by 6.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock valued at $357,000 after acquiring an additional 3,861 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the transaction, the insider now directly owns 967,191 shares of the company’s stock, valued at approximately $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven B. Binder sold 67,539 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.76, for a total transaction of $456,563.64. Following the completion of the transaction, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,267,175.76. The trade was a 5.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,075 shares of company stock valued at $1,325,587 over the last quarter. Insiders own 3.00% of the company’s stock.

MannKind Trading Up 0.7 %

NASDAQ MNKD opened at $6.13 on Tuesday. The business’s 50-day moving average price is $6.70 and its two-hundred day moving average price is $6.22. The firm has a market capitalization of $1.69 billion, a PE ratio of 87.57 and a beta of 1.29. MannKind Co. has a 12 month low of $3.17 and a 12 month high of $7.63.

Wall Street Analysts Forecast Growth

MNKD has been the topic of several recent analyst reports. Wells Fargo & Company started coverage on shares of MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 target price on the stock. Royal Bank of Canada upgraded MannKind from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $10.00 in a research note on Thursday, December 19th. Finally, StockNews.com lowered MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $9.07.

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.