Deltec Asset Management LLC Has $1.05 Million Stock Holdings in MannKind Corporation $MNKD

Deltec Asset Management LLC decreased its position in shares of MannKind Corporation (NASDAQ:MNKD) by 56.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 428,000 shares of the biopharmaceutical company’s stock after selling 546,700 shares during the quarter. Deltec Asset Management LLC’s holdings in MannKind were worth $1,049,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Krilogy Financial LLC acquired a new stake in MannKind in the first quarter worth $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of MannKind by 108.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 2,927 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of MannKind in the 4th quarter valued at $45,000. Discipline Wealth Solutions LLC acquired a new position in shares of MannKind in the 1st quarter valued at $45,000. Finally, Burkett Financial Services LLC acquired a new position in shares of MannKind in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Activity

In other news, Director Steven B. Binder sold 16,940 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total value of $55,732.60. Following the completion of the sale, the director owned 808,008 shares of the company’s stock, valued at approximately $2,658,346.32. This represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on MNKD. Wells Fargo & Company set a $11.00 price objective on MannKind and gave the stock an “overweight” rating in a research note on Monday, June 1st. Wedbush lowered their price target on MannKind from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Mizuho dropped their price target on MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada boosted their price objective on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MannKind has an average rating of “Moderate Buy” and a consensus target price of $8.97.

MannKind Price Performance

MNKD stock opened at $4.05 on Thursday. MannKind Corporation has a fifty-two week low of $2.23 and a fifty-two week high of $6.51. The stock has a market capitalization of $1.25 billion, a P/E ratio of -57.85 and a beta of 1.09. The business has a 50-day moving average of $3.45 and a 200-day moving average of $4.09.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The business had revenue of $90.17 million during the quarter, compared to the consensus estimate of $105.38 million. During the same period in the prior year, the firm earned $0.04 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts expect that MannKind Corporation will post -0.06 EPS for the current year.

MannKind 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).