MannKind (NASDAQ:MNKD) Insider Stuart Tross Sells 47,006 Shares of Stock

MannKind Corporation (NASDAQ:MNKD) insider Stuart Tross sold 47,006 shares of MannKind stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $6.33, for a total transaction of $297,547.98. Following the sale, the insider directly owned 985,007 shares in the company, valued at $6,235,094.31. This trade represents a 4.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

MannKind Stock Down 2.7%

MNKD opened at $5.85 on Friday. The company’s 50-day moving average price is $5.59 and its 200 day moving average price is $4.94. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 58.50 and a beta of 0.81. MannKind Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $6.51.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $82.13 million during the quarter, compared to the consensus estimate of $80.47 million. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. MannKind’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.04 EPS. Research analysts anticipate that MannKind Corporation will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MNKD. Wells Fargo & Company reduced their price objective on MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Leerink Partners initiated coverage on shares of MannKind in a research report on Thursday, November 13th. They set an “outperform” rating and a $7.00 target price on the stock. Truist Financial set a $9.00 target price on MannKind in a research report on Monday, November 24th. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.06.

Institutional Trading of MannKind

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in MannKind by 19.8% during the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after acquiring an additional 9,160 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MannKind by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock worth $1,059,000 after purchasing an additional 6,079 shares in the last quarter. Millennium Management LLC boosted its holdings in MannKind by 68.9% in the 1st quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock valued at $29,288,000 after purchasing an additional 2,375,198 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MannKind by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock valued at $3,374,000 after purchasing an additional 53,202 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of MannKind by 4.4% in the first quarter. Rhumbline Advisers now owns 399,033 shares of the biopharmaceutical company’s stock worth $2,007,000 after purchasing an additional 16,807 shares during the period. 49.55% of the stock is currently owned by institutional investors.

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.