Calamos Advisors LLC decreased its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 41.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 184,661 shares of the biopharmaceutical company's stock after selling 131,021 shares during the quarter. Calamos Advisors LLC owned 0.07% of MannKind worth $1,187,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake 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. New Wave Wealth Advisors LLC raised its position in MannKind by 78.6% in the 4th quarter. New Wave Wealth Advisors LLC now owns 50,000 shares of the biopharmaceutical company's stock valued at $322,000 after buying an additional 22,000 shares during the last quarter. 180 Wealth Advisors LLC increased its position in shares of MannKind by 1.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company's stock valued at $13,540,000 after purchasing an additional 21,170 shares during the last quarter. Principal Financial Group Inc. increased its position in MannKind by 401.8% in the third quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock worth $1,060,000 after buying an additional 134,937 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of MannKind by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 160,016 shares of the biopharmaceutical company's stock valued at $1,047,000 after purchasing an additional 4,603 shares during the period. Institutional investors own 49.55% of the company's stock.
MannKind Trading Down 0.4 %
NASDAQ:MNKD traded down $0.02 on Friday, reaching $5.63. 1,224,526 shares of the stock traded hands, compared to its average volume of 1,878,845. The company's fifty day simple moving average is $6.29 and its 200 day simple moving average is $6.27. MannKind Co. has a 12 month low of $3.37 and a 12 month high of $7.63. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 80.43 and a beta of 1.28.
MannKind (NASDAQ:MNKD - Get Free Report) last issued its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. The business had revenue of $70.08 million for the quarter, compared to the consensus estimate of $77.27 million. Equities analysts anticipate that MannKind Co. will post 0.1 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on MNKD shares. Royal Bank of Canada raised MannKind from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $7.00 to $10.00 in a report on Thursday, December 19th. StockNews.com lowered shares of MannKind from a "buy" rating to a "hold" rating in a research report on Saturday, December 7th. Finally, Wells Fargo & Company assumed coverage on MannKind in a research report on Friday, December 20th. They set an "overweight" rating and a $9.00 price target on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $9.07.
Read Our Latest Report on MannKind
Insider Buying and Selling
In related news, Director Steven B. Binder sold 67,539 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $6.76, for a total value of $456,563.64. Following the transaction, the director now owns 1,075,026 shares of the company's stock, valued at approximately $7,267,175.76. This trade represents a 5.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.
MannKind Company Profile
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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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