MannKind Co. (NASDAQ:MNKD) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 33,355,400 shares, a drop of 3.6% from the February 15th total of 34,616,663 shares. Approximately 12.1% of the shares of the company are short sold. Based on an average trading volume of 3,432,585 shares, the days-to-cover ratio is currently 9.7 days.
In other news, VP Stuart A. Tross bought 39,840 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was bought at an average price of $2.52 per share, for a total transaction of $100,396.80. Following the transaction, the vice president now owns 59,840 shares in the company, valued at $150,796.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. bought a new stake in shares of MannKind in the 3rd quarter worth approximately $156,000. Wells Fargo & Company MN lifted its holdings in shares of MannKind by 51.5% in the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 30,589 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of MannKind in the 3rd quarter worth approximately $219,000. Bank of New York Mellon Corp lifted its holdings in shares of MannKind by 30.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 25,125 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of MannKind in the 3rd quarter worth approximately $270,000. 19.62% of the stock is currently owned by institutional investors and hedge funds.
MannKind (NASDAQ MNKD) opened at $2.61 on Tuesday. The company has a market capitalization of $314.42, a P/E ratio of -2.33 and a beta of 2.95. The company has a debt-to-equity ratio of -0.48, a current ratio of 0.65 and a quick ratio of 0.62. MannKind has a 12-month low of $0.67 and a 12-month high of $6.96.
MannKind (NASDAQ:MNKD) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.01. The company had revenue of $4.53 million during the quarter, compared to analyst estimates of $3.22 million. MannKind had a negative return on equity of 24.93% and a negative net margin of 999.00%. research analysts expect that MannKind will post -0.85 earnings per share for the current year.
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MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.
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