Marshall Wace LLP Has $5.96 Million Stock Position in MannKind Co. (NASDAQ:MNKD)

Marshall Wace LLP boosted its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 926,683 shares of the biopharmaceutical company's stock after purchasing an additional 214,873 shares during the period. Marshall Wace LLP owned approximately 0.34% of MannKind worth $5,959,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. XTX Topco Ltd lifted its holdings in shares of MannKind by 48.9% during the 4th quarter. XTX Topco Ltd now owns 67,396 shares of the biopharmaceutical company's stock valued at $433,000 after buying an additional 22,148 shares during the last quarter. Mariner LLC acquired a new position in MannKind during the fourth quarter worth $1,693,000. Barclays PLC lifted its position in shares of MannKind by 6.2% in the fourth quarter. Barclays PLC now owns 552,143 shares of the biopharmaceutical company's stock worth $3,550,000 after buying an additional 32,278 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of MannKind by 10.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company's stock worth $181,000 after acquiring an additional 2,657 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in MannKind in the 4th quarter worth approximately $4,209,000. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Stock Up 2.2 %

Shares of MNKD traded up $0.11 during trading hours on Tuesday, hitting $4.84. The company had a trading volume of 261,482 shares, compared to its average volume of 2,012,226. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 68.93 and a beta of 1.22. The business has a fifty day moving average of $4.99 and a 200-day moving average of $5.93. MannKind Co. has a 12 month low of $4.11 and a 12 month high of $7.63.

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

Wall Street Analyst Weigh In

MNKD has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of MannKind from a "hold" rating to a "buy" rating in a report on Wednesday, March 19th. Wedbush reissued an "outperform" rating and issued a $11.00 price target on shares of MannKind in a report on Thursday, February 27th. Finally, Mizuho started coverage on MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, MannKind presently 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.