KLP Kapitalforvaltning AS Takes Position in MannKind Co. (NASDAQ:MNKD)

KLP Kapitalforvaltning AS purchased a new position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 53,400 shares of the biopharmaceutical company's stock, valued at approximately $343,000.

Several other large investors have also made changes to their positions in MNKD. State Street Corp boosted its stake in MannKind by 0.4% in the third quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company's stock valued at $60,366,000 after buying an additional 40,338 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of MannKind by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company's stock valued at $39,880,000 after purchasing an additional 24,031 shares during the last quarter. Two Sigma Advisers LP increased its position in MannKind by 60.7% during the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company's stock worth $16,658,000 after purchasing an additional 1,000,600 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in MannKind by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company's stock valued at $14,597,000 after purchasing an additional 45,277 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in MannKind by 1.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company's stock valued at $13,540,000 after buying an additional 21,170 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.

MannKind Stock Down 1.1 %

MNKD traded down $0.05 during trading on Thursday, hitting $4.64. The company's stock had a trading volume of 2,194,166 shares, compared to its average volume of 2,398,811. The firm has a market capitalization of $1.41 billion, a P/E ratio of 66.29 and a beta of 1.22. MannKind Co. has a twelve month low of $3.97 and a twelve month high of $7.63. The stock's fifty day moving average price is $5.22 and its 200-day moving average price is $6.08.

MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.03. The company had revenue of $76.78 million for the quarter, compared to the consensus estimate of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. Equities research analysts expect that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

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

About MannKind

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.