Bank of New York Mellon Corp lifted its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 789,760 shares of the biopharmaceutical company's stock after purchasing an additional 51,598 shares during the quarter. Bank of New York Mellon Corp owned 0.29% of MannKind worth $5,078,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Investment Management LLC bought a new position in MannKind during the fourth quarter worth about $69,000. Beirne Wealth Consulting Services LLC bought a new position in shares of MannKind during the 4th quarter worth approximately $66,000. Principal Financial Group Inc. boosted its stake in MannKind by 9.5% in the 4th quarter. Principal Financial Group Inc. now owns 184,575 shares of the biopharmaceutical company's stock valued at $1,187,000 after buying an additional 16,057 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in MannKind by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 58,475 shares of the biopharmaceutical company's stock valued at $376,000 after acquiring an additional 5,585 shares during the period. Finally, New Wave Wealth Advisors LLC raised its stake in MannKind by 78.6% during the fourth quarter. New Wave Wealth Advisors LLC now owns 50,000 shares of the biopharmaceutical company's stock worth $322,000 after acquiring an additional 22,000 shares in the last quarter. 49.55% of the stock is owned by institutional investors.
MannKind Stock Down 0.9 %
NASDAQ:MNKD traded down $0.05 during trading hours on Friday, hitting $5.22. 1,148,105 shares of the stock were exchanged, compared to its average volume of 2,389,604. The company has a market capitalization of $1.58 billion, a P/E ratio of 74.50 and a beta of 1.27. The company's 50 day moving average is $5.59 and its two-hundred day moving average is $6.24. MannKind Co. has a twelve month low of $3.97 and a twelve month high of $7.63.
MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. On average, equities research analysts expect that MannKind Co. will post 0.1 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on MNKD shares. Royal Bank of Canada upgraded shares of MannKind from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Wells Fargo & Company initiated coverage on shares of MannKind in a research note on Friday, December 20th. They set an "overweight" rating and a $9.00 price objective on the stock. StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Wedbush restated an "outperform" rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MannKind currently has a consensus rating of "Buy" and a consensus price target of $9.21.
Get Our Latest Analysis on MannKind
MannKind Company Profile
(
Free Report)
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.
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