Two Sigma Advisers LP boosted its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 60.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,648,327 shares of the biopharmaceutical company's stock after buying an additional 1,000,600 shares during the period. Two Sigma Advisers LP owned 0.96% of MannKind worth $16,658,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company's stock worth $62,000 after purchasing an additional 1,816 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of MannKind by 8.1% during the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company's stock worth $223,000 after buying an additional 3,214 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of MannKind by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company's stock valued at $529,000 after purchasing an additional 3,374 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in MannKind by 6.0% in the second quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company's stock worth $357,000 after purchasing an additional 3,861 shares during the period. Finally, Hunter Associates Investment Management LLC boosted its stake in MannKind by 8.5% during the third quarter. Hunter Associates Investment Management LLC now owns 61,700 shares of the biopharmaceutical company's stock valued at $387,000 after buying an additional 4,830 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.
MannKind Price Performance
Shares of NASDAQ MNKD traded down $0.14 during trading on Monday, reaching $6.66. 1,888,974 shares of the stock traded hands, compared to its average volume of 2,641,577. The stock has a market capitalization of $1.84 billion, a P/E ratio of 97.14 and a beta of 1.28. The company has a 50-day moving average of $6.75 and a 200-day moving average of $5.92. MannKind Co. has a 52-week low of $3.17 and a 52-week high of $7.63.
Insiders Place Their Bets
In other MannKind news, Director Steven B. Binder sold 67,536 shares of the company's 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 in the company, valued at $7,406,929.14. This represents a 5.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stuart A. Tross sold 55,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total value of $403,700.00. Following the transaction, the insider now owns 967,191 shares of the company's stock, valued at approximately $7,099,181.94. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,075 shares of company stock valued at $1,325,587 in the last ninety days. Company insiders own 3.00% of the company's stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. StockNews.com lowered MannKind from a "buy" rating to a "hold" rating in a report on Saturday. Leerink Partners initiated coverage on MannKind in a research note on Monday, September 9th. They set an "outperform" rating and a $8.00 price target on the stock. Oppenheimer boosted their price objective on MannKind from $10.00 to $12.00 and gave the company an "outperform" rating in a research report on Wednesday, August 28th. Finally, Leerink Partnrs upgraded shares of MannKind to a "strong-buy" rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $8.67.
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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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