Vanguard Group Inc. grew its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,058,557 shares of the biopharmaceutical company's stock after acquiring an additional 420,334 shares during the period. Vanguard Group Inc. owned 5.82% of MannKind worth $103,257,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. State Street Corp increased its stake in shares of 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 stake in shares of MannKind by 0.4% during the third 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. Charles Schwab Investment Management Inc. increased its holdings in shares of MannKind by 2.0% in the fourth 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 in the last quarter. 180 Wealth Advisors LLC lifted its holdings in MannKind by 1.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 2,105,707 shares of the biopharmaceutical company's stock worth $13,540,000 after buying an additional 21,170 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in MannKind by 0.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,901,780 shares of the biopharmaceutical company's stock valued at $12,228,000 after buying an additional 16,410 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors.
MannKind Stock Performance
NASDAQ MNKD traded up $0.03 during trading hours on Tuesday, reaching $4.66. 231,138 shares of the company's stock were exchanged, compared to its average volume of 2,391,542. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 66.50 and a beta of 1.22. MannKind Co. has a one year low of $3.97 and a one year high of $7.63. The company's 50-day moving average is $5.18 and its two-hundred day moving average is $6.05.
MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The firm had revenue of $76.78 million during the quarter, compared to analyst estimates of $74.99 million. Research analysts predict that MannKind Co. will post 0.1 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently issued reports on MNKD. Mizuho started coverage on MannKind in a report on Thursday, April 10th. They issued an "outperform" rating and a $12.00 price target on the stock. Royal Bank of Canada upgraded shares of MannKind from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $7.00 to $10.00 in a report on Thursday, December 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. StockNews.com raised MannKind from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They issued an "overweight" rating and a $9.00 target price on the stock. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $9.56.
Read Our Latest Analysis on MannKind
About MannKind
(
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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