Russell Investments Group Ltd. Sells 190,563 Shares of MannKind Co. (NASDAQ:MNKD)

Russell Investments Group Ltd. lessened its holdings in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 421,659 shares of the biopharmaceutical company's stock after selling 190,563 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of MannKind worth $2,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MNKD. Arrowstreet Capital Limited Partnership lifted its position in MannKind by 275.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock valued at $31,427,000 after purchasing an additional 3,587,484 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of MannKind during the 4th quarter worth $4,209,000. Vanguard Group Inc. grew its position in MannKind by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company's stock worth $103,257,000 after acquiring an additional 420,334 shares in the last quarter. ExodusPoint Capital Management LP increased its stake in MannKind by 421.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 444,599 shares of the biopharmaceutical company's stock valued at $2,859,000 after acquiring an additional 359,400 shares during the last quarter. Finally, Barclays PLC raised its position in MannKind by 186.0% during the third quarter. Barclays PLC now owns 519,865 shares of the biopharmaceutical company's stock valued at $3,271,000 after purchasing an additional 338,121 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Trading Up 2.8 %

MNKD stock traded up $0.13 during midday trading on Wednesday, hitting $4.71. The company had a trading volume of 247,075 shares, compared to its average volume of 2,052,581. MannKind Co. has a 52 week low of $4.11 and a 52 week high of $7.63. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 67.29 and a beta of 1.22. The stock's 50 day moving average price is $5.05 and its 200 day moving average price is $5.98.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MNKD shares. StockNews.com upgraded 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 price target on shares of MannKind in a research report on Thursday, February 27th. Finally, Mizuho started coverage on shares of MannKind in a research note on Thursday, April 10th. They set an "outperform" rating and a $12.00 price target on the stock. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, MannKind currently has a consensus rating of "Buy" and an average target price of $9.56.

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.