MannKind Co. (NASDAQ:MNKD) Director Sells $456,563.64 in Stock

MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder sold 67,539 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $6.76, for a total value of $456,563.64. Following the sale, the director now owns 1,075,026 shares of the company’s stock, valued at approximately $7,267,175.76. The trade was a 5.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MannKind Trading Up 2.1 %

NASDAQ MNKD traded up $0.14 on Tuesday, reaching $6.86. The company’s stock had a trading volume of 1,709,811 shares, compared to its average volume of 2,627,150. The firm has a market cap of $1.89 billion, a PE ratio of 98.00 and a beta of 1.30. MannKind Co. has a 52 week low of $3.17 and a 52 week high of $7.63. The business has a 50-day moving average price of $6.67 and a 200 day moving average price of $5.72.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer upped their price target on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Leerink Partners assumed coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MannKind has a consensus rating of “Buy” and a consensus price target of $8.67.

Hedge Funds Weigh In On MannKind

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in MannKind by 511.6% during the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock worth $558,000 after acquiring an additional 74,189 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of MannKind during the 3rd quarter worth about $546,000. Bank of New York Mellon Corp increased its position in shares of MannKind by 14.4% during 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 purchasing an additional 115,390 shares in the last quarter. Millennium Management LLC boosted its position in MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after buying an additional 3,107,598 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in MannKind during the second quarter worth about $1,524,000. Institutional investors own 49.55% of the company’s stock.

MannKind Company Profile

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.