Walleye Capital LLC Sells 749,193 Shares of MannKind Co. (NASDAQ:MNKD)

Walleye Capital LLC lessened its position in shares of MannKind Co. (NASDAQ:MNKD - Free Report) by 91.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,409 shares of the biopharmaceutical company's stock after selling 749,193 shares during the quarter. Walleye Capital LLC's holdings in MannKind were worth $446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew 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 buying an additional 338,121 shares during the period. Principal Financial Group Inc. increased its stake in shares of MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company's stock worth $1,060,000 after purchasing an additional 134,937 shares in the last quarter. Victory Capital Management Inc. raised its holdings in MannKind by 358.6% in the 4th quarter. Victory Capital Management Inc. now owns 219,367 shares of the biopharmaceutical company's stock worth $1,411,000 after purchasing an additional 171,537 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in MannKind by 275.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company's stock worth $31,427,000 after purchasing an additional 3,587,484 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in MannKind by 2.0% during 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. Hedge funds and other institutional investors own 49.55% of the company's stock.

MannKind Stock Performance

Shares of MNKD traded up $0.09 during midday trading on Tuesday, hitting $4.82. 201,989 shares of the company traded hands, compared to its average volume of 2,383,474. MannKind Co. has a 52 week low of $4.11 and a 52 week high of $7.63. The firm has a 50 day moving average of $4.99 and a 200-day moving average of $5.93. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 68.64 and a beta of 1.22.

MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts' expectations of $74.99 million. Sell-side analysts predict that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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