International Assets Investment Management LLC Raises Position in MannKind Co. (NASDAQ:MNKD)

International Assets Investment Management LLC increased its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 511.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 88,689 shares of the biopharmaceutical company's stock after purchasing an additional 74,189 shares during the period. International Assets Investment Management LLC's holdings in MannKind were worth $558,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MNKD. Private Advisor Group LLC raised its stake in MannKind by 45.7% during the 3rd quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company's stock valued at $192,000 after purchasing an additional 9,588 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of MannKind in the 3rd quarter valued at $93,000. nVerses Capital LLC acquired a new position in MannKind in the third quarter worth about $114,000. SG Americas Securities LLC acquired a new position in shares of MannKind in the 3rd quarter worth approximately $546,000. Finally, New Wave Wealth Advisors LLC bought a new position in shares of MannKind during the 2nd quarter worth approximately $151,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Leerink Partnrs raised MannKind to a "strong-buy" rating in a research note on Monday, September 9th. Leerink Partners started coverage on MannKind in a research note on Monday, September 9th. They issued an "outperform" rating and a $8.00 target price on the stock. Finally, Oppenheimer increased their target price on shares of MannKind from $10.00 to $12.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $8.67.

Insiders Place Their Bets

In other MannKind news, EVP Steven B. Binder sold 5,055 shares of the company's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.94, for a total value of $30,026.70. Following the sale, the executive vice president now owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other MannKind news, EVP Steven B. Binder sold 5,055 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total value of $30,026.70. Following the transaction, the executive vice president now owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stuart A. Tross sold 25,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.26, for a total value of $156,500.00. Following the completion of the transaction, the insider now owns 1,022,191 shares in the company, valued at approximately $6,398,915.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,161 shares of company stock valued at $1,229,095 in the last 90 days. Corporate insiders own 3.00% of the company's stock.

MannKind Price Performance

NASDAQ MNKD traded up $0.18 on Wednesday, reaching $7.44. The stock had a trading volume of 3,677,255 shares, compared to its average volume of 1,915,078. MannKind Co. has a 1-year low of $3.17 and a 1-year high of $7.63. The firm has a fifty day moving average of $6.50 and a two-hundred day moving average of $5.53. The company has a market cap of $2.05 billion, a P/E ratio of 186.05 and a beta of 1.30.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. The firm had revenue of $72.39 million for the quarter, compared to the consensus estimate of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The company's revenue was up 48.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. Research analysts predict that MannKind Co. will post 0.11 EPS for the current fiscal year.

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.