Arrowstreet Capital Limited Partnership grew its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 275.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,887,609 shares of the biopharmaceutical company's stock after acquiring an additional 3,587,484 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.77% of MannKind worth $31,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in shares of MannKind during the third quarter valued at about $12,252,000. Barclays PLC lifted its position in shares of MannKind by 186.0% during the 3rd quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock worth $3,271,000 after buying an additional 338,121 shares in the last quarter. Parkman Healthcare Partners LLC lifted its position in shares of MannKind by 37.1% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company's stock worth $20,783,000 after buying an additional 894,486 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of MannKind by 401.8% in the third quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock valued at $1,060,000 after acquiring an additional 134,937 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of MannKind by 421.3% during the third quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company's stock valued at $2,968,000 after acquiring an additional 381,298 shares during the last quarter. Institutional investors own 49.55% of the company's stock.
MannKind Stock Performance
NASDAQ MNKD traded down $0.05 during trading on Monday, hitting $4.69. 3,815,110 shares of the company's stock traded hands, compared to its average volume of 2,393,580. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 67.00 and a beta of 1.22. The business has a 50 day moving average of $5.35 and a 200-day moving average of $6.14. MannKind Co. has a 12-month low of $3.97 and a 12-month high of $7.63.
MannKind (NASDAQ:MNKD - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company had revenue of $76.78 million during the quarter, compared to the consensus estimate of $74.99 million. On average, analysts expect that MannKind Co. will post 0.1 EPS for the current year.
Wall Street Analyst Weigh In
MNKD has been the topic of several research analyst reports. Royal Bank of Canada raised MannKind from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. StockNews.com raised shares of MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Finally, Wells Fargo & Company began coverage on shares of MannKind in a research report on Friday, December 20th. They issued an "overweight" rating and a $9.00 price objective on the stock. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $9.21.
View Our Latest Stock Report on MannKind
MannKind Company Profile
(
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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