MannKind (NASDAQ:MNKD) Director Sells $127,855.98 in Stock

MannKind Corporation (NASDAQ:MNKD) Director Steven Binder sold 33,558 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $3.81, for a total value of $127,855.98. Following the transaction, the director directly owned 752,309 shares in the company, valued at approximately $2,866,297.29. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

MannKind Stock Performance

Shares of NASDAQ:MNKD opened at $3.55 on Thursday. MannKind Corporation has a 52-week low of $2.23 and a 52-week high of $6.51. The business’s 50 day simple moving average is $3.97 and its two-hundred day simple moving average is $3.46. The firm has a market cap of $1.14 billion, a P/E ratio of -27.31 and a beta of 1.10.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). MannKind had a negative return on equity of 11.21% and a negative net margin of 11.08%.The firm had revenue of $109.37 million during the quarter, compared to the consensus estimate of $108.08 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 43.0% on a year-over-year basis. On average, equities analysts forecast that MannKind Corporation will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of MannKind

Several large investors have recently modified their holdings of MNKD. Wellington Management Group LLP lifted its holdings in MannKind by 138.9% in the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock worth $33,419,000 after buying an additional 4,561,628 shares during the period. Frazier Life Sciences Management L.P. increased its stake in shares of MannKind by 11.9% during the second quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock valued at $28,116,000 after buying an additional 700,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MannKind by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock valued at $12,134,000 after buying an additional 509,692 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of MannKind by 45.0% during the first quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock valued at $10,515,000 after acquiring an additional 1,332,759 shares in the last quarter. Finally, Braidwell LP bought a new position in shares of MannKind during the second quarter valued at approximately $14,733,000. 49.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MNKD. Weiss Ratings reissued a “sell (d)” rating on shares of MannKind in a report on Wednesday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $8.00 target price on shares of MannKind in a research report on Friday, September 11th. Zacks Research downgraded shares of MannKind from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Wells Fargo & Company reduced their target price on shares of MannKind from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen cut shares of MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.34.

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. 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).