MannKind Co. (NASDAQ:MNKD) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 15.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,885,370 shares of the biopharmaceutical company's stock after purchasing an additional 251,587 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.69% of MannKind worth $11,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new position in shares of MannKind in the 2nd quarter worth $55,000. Brookstone Capital Management purchased a new position in shares of MannKind in the 2nd quarter worth about $61,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MannKind by 22.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 1,816 shares during the period. Renaissance Technologies LLC purchased a new position in MannKind in the second quarter valued at approximately $67,000. Finally, Foundations Investment Advisors LLC purchased a new stake in MannKind during the third quarter worth approximately $93,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MNKD has been the subject of several recent research reports. StockNews.com downgraded MannKind from a "buy" rating to a "hold" rating in a report on Thursday. Leerink Partnrs upgraded MannKind to a "strong-buy" rating in a report on Monday, September 9th. Leerink Partners began coverage on shares of MannKind in a research report on Monday, September 9th. They issued an "outperform" rating and a $8.00 price objective for the company. Finally, Oppenheimer boosted their target price on shares of MannKind from $10.00 to $12.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $8.67.

Insiders Place Their Bets

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the sale, the insider now owns 967,191 shares in the company, valued at $7,099,181.94. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven B. Binder sold 67,539 shares of MannKind stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.76, for a total transaction of $456,563.64. Following the completion of the transaction, the director now directly owns 1,075,026 shares of the company's stock, valued at $7,267,175.76. This trade represents a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 317,700 shares of company stock valued at $2,089,358 in the last quarter. Insiders own 3.00% of the company's stock.

MannKind Price Performance

Shares of NASDAQ:MNKD traded down $0.06 during midday trading on Friday, reaching $6.84. The company had a trading volume of 3,018,546 shares, compared to its average volume of 2,630,227. The stock has a market capitalization of $1.89 billion, a P/E ratio of 98.61 and a beta of 1.30. The stock's fifty day moving average price is $6.69 and its 200-day moving average price is $5.73. MannKind Co. has a one year low of $3.17 and a one year high of $7.63.

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.