ExodusPoint Capital Management LP Increases Stake in MannKind Co. (NASDAQ:MNKD)

ExodusPoint Capital Management LP raised its stake in MannKind Co. (NASDAQ:MNKD - Free Report) by 421.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 444,599 shares of the biopharmaceutical company's stock after buying an additional 359,400 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.16% of MannKind worth $2,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MNKD. Barclays PLC raised its stake in MannKind by 186.0% during the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock worth $3,271,000 after purchasing an additional 338,121 shares during the period. Principal Financial Group Inc. lifted its stake in shares of MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock valued at $1,060,000 after purchasing an additional 134,937 shares during the last quarter. HighTower Advisors LLC increased its position in shares of MannKind by 300.2% during the 3rd quarter. HighTower Advisors LLC now owns 143,393 shares of the biopharmaceutical company's stock worth $903,000 after purchasing an additional 107,560 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MannKind by 36.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 138,730 shares of the biopharmaceutical company's stock worth $873,000 after purchasing an additional 37,295 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in MannKind by 60.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company's stock valued at $16,658,000 after buying an additional 1,000,600 shares during the period. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Stock Up 0.4 %

MannKind stock traded up $0.02 during mid-day trading on Friday, hitting $4.66. The company had a trading volume of 1,939,784 shares, compared to its average volume of 2,400,589. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 66.57 and a beta of 1.22. MannKind Co. has a 1 year low of $3.97 and a 1 year high of $7.63. The business has a fifty day moving average of $5.20 and a 200 day moving average of $6.07.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company 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%. Equities analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MNKD. Royal Bank of Canada upgraded shares of MannKind from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $7.00 to $10.00 in a research report on Thursday, December 19th. Wedbush restated an "outperform" rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. StockNews.com upgraded MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Mizuho initiated coverage on MannKind in a report on Thursday. They set an "outperform" rating and a $12.00 target price for the company. Finally, Wells Fargo & Company began coverage on shares of MannKind in a research note on Friday, December 20th. They issued an "overweight" rating and a $9.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MannKind has a consensus rating of "Buy" and an average price target of $9.56.

MannKind 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.