GSA Capital Partners LLP lowered its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 96.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,342 shares of the biopharmaceutical company's stock after selling 455,700 shares during the quarter. GSA Capital Partners LLP's holdings in MannKind were worth $97,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of MNKD. Meeder Asset Management Inc. purchased a new position in MannKind during the second quarter valued at approximately $55,000. Brookstone Capital Management purchased a new position in shares of MannKind in the 2nd quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MannKind by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company's stock worth $62,000 after acquiring an additional 1,816 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of MannKind during the 2nd quarter worth $67,000. Finally, Foundations Investment Advisors LLC bought a new stake in MannKind during the third quarter valued at about $93,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. StockNews.com lowered shares of MannKind from a "buy" rating to a "hold" rating in a research report on Thursday, November 21st. Leerink Partnrs upgraded shares of MannKind to a "strong-buy" rating in a research note on Monday, September 9th. Oppenheimer lifted their price target on shares of MannKind from $10.00 to $12.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Finally, Leerink Partners assumed coverage on MannKind in a research report on Monday, September 9th. They issued an "outperform" rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $8.67.
Check Out Our Latest Research Report on MannKind
MannKind Stock Performance
MNKD stock traded down $0.14 during midday trading on Tuesday, reaching $6.58. The stock had a trading volume of 5,991,354 shares, compared to its average volume of 2,643,677. The firm has a fifty day simple moving average of $6.71 and a two-hundred day simple moving average of $5.78. The stock has a market cap of $1.81 billion, a PE ratio of 94.00 and a beta of 1.30. MannKind Co. has a 52-week low of $3.17 and a 52-week high of $7.63.
Insider Buying and Selling
In related news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total transaction of $403,700.00. Following the completion of the transaction, the insider now directly owns 967,191 shares in the company, valued at approximately $7,099,181.94. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven B. Binder sold 67,536 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the transaction, the director now directly owns 1,075,026 shares of the company's stock, valued at $7,406,929.14. The trade was a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,236 shares of company stock valued at $2,554,681 over the last quarter. 3.00% of the stock is currently owned by company insiders.
MannKind 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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