SG Americas Securities LLC Has $182,000 Holdings in MannKind Co. (NASDAQ:MNKD)

SG Americas Securities LLC reduced its position in MannKind Co. (NASDAQ:MNKD - Free Report) by 67.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,314 shares of the biopharmaceutical company's stock after selling 58,461 shares during the period. SG Americas Securities LLC's holdings in MannKind were worth $182,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in shares of MannKind during the 3rd quarter worth about $12,252,000. Two Sigma Advisers LP boosted its stake in shares of 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 acquiring an additional 1,000,600 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake 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 acquiring an additional 894,486 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of MannKind by 421.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 471,802 shares of the biopharmaceutical company's stock worth $2,968,000 after acquiring an additional 381,298 shares in the last quarter. Finally, Barclays PLC boosted its stake 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 acquiring an additional 338,121 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Steven B. Binder sold 67,536 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the transaction, the director now directly owns 1,075,026 shares of the company's stock, valued at approximately $7,406,929.14. This represents a 5.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.00% of the company's stock.

MannKind Stock Up 0.4 %

Shares of MNKD stock traded up $0.02 during mid-day trading on Wednesday, reaching $5.60. The stock had a trading volume of 1,799,215 shares, compared to its average volume of 1,913,676. The firm's 50 day simple moving average is $6.24 and its 200 day simple moving average is $6.27. MannKind Co. has a one year low of $3.38 and a one year high of $7.63. The firm has a market cap of $1.54 billion, a PE ratio of 80.00 and a beta of 1.28.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded MannKind from a "buy" rating to a "hold" rating in a research note on Saturday, December 7th. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They set an "overweight" rating and a $9.00 target price for the company. Royal Bank of Canada upgraded MannKind from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Finally, Wedbush assumed coverage on MannKind in a research note on Monday. They set an "outperform" rating and a $11.00 target price for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $9.21.

MannKind 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.