Wellington Management Group LLP Acquires 85,977 Shares of MannKind Co. (NASDAQ:MNKD)

Wellington Management Group LLP increased its holdings in MannKind Co. (NASDAQ:MNKD - Free Report) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865,295 shares of the biopharmaceutical company's stock after acquiring an additional 85,977 shares during the quarter. Wellington Management Group LLP owned about 0.31% of MannKind worth $5,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of MNKD. Brookstone Capital Management bought a new stake in shares of MannKind in the 2nd quarter worth approximately $61,000. Hennion & Walsh Asset Management Inc. boosted its holdings in MannKind by 6.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 251,309 shares of the biopharmaceutical company's stock worth $1,312,000 after acquiring an additional 15,423 shares in the last quarter. TSP Capital Management Group LLC grew its stake in shares of MannKind by 196.0% in the second quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company's stock worth $12,486,000 after acquiring an additional 1,583,800 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of MannKind by 14.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company's stock worth $4,778,000 after purchasing an additional 115,390 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in MannKind by 6.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company's stock valued at $357,000 after purchasing an additional 3,861 shares during the last quarter. 49.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MannKind

In other MannKind news, Director Steven B. Binder sold 67,539 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $6.76, for a total transaction of $456,563.64. Following the sale, the director now directly owns 1,075,026 shares of the company's stock, valued at $7,267,175.76. This trade represents a 5.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stuart A. Tross sold 55,000 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total transaction 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. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 190,075 shares of company stock worth $1,325,587 in the last three months. Corporate insiders own 3.00% of the company's stock.

MannKind Price Performance

Shares of MNKD traded down $0.34 on Tuesday, reaching $5.93. The company's stock had a trading volume of 5,318,736 shares, compared to its average volume of 2,649,151. MannKind Co. has a 12-month low of $3.17 and a 12-month high of $7.63. The stock has a market capitalization of $1.64 billion, a P/E ratio of 84.71 and a beta of 1.28. The stock's 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $6.00.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Leerink Partners started coverage on MannKind in a research report on Monday, September 9th. They issued an "outperform" rating and a $8.00 price objective on the stock. StockNews.com cut shares of MannKind from a "buy" rating to a "hold" rating in a research note on Saturday, December 7th. Leerink Partnrs upgraded shares of MannKind to a "strong-buy" rating in a research note on Monday, September 9th. Finally, Oppenheimer raised their target price on shares of MannKind from $10.00 to $12.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MannKind has an average rating of "Buy" and a consensus price target of $8.67.

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.