MannKind (NASDAQ:MNKD) Stock: Insider Steven Binder Sells 39,051 Shares

by · The Markets Daily

MannKind Corporation (NASDAQ:MNKD – Get Free Report) Director Steven Binder sold 39,051 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $3.29, for a total value of $128,477.79. Following the sale, the director owned 713,258 shares of the company’s stock, valued at approximately $2,346,618.82. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

MannKind Stock Up 0.3%

Shares of MNKD traded up $0.01 during trading hours on Monday, hitting $3.35. 2,077,494 shares of the company were exchanged, compared to its average volume of 4,070,112. MannKind Corporation has a fifty-two week low of $2.23 and a fifty-two week high of $6.51. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -25.77 and a beta of 1.10. The firm’s fifty day moving average is $3.88 and its 200 day moving average is $3.49.

MannKind (NASDAQ:MNKD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). MannKind had a negative return on equity of 11.21% and a negative net margin of 11.08%.The business had revenue of $109.37 million during the quarter, compared to the consensus estimate of $108.08 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. MannKind’s revenue for the quarter was up 43.0% compared to the same quarter last year. Analysts anticipate that MannKind Corporation will post -0.2 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MNKD. HC Wainwright reiterated a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research note on Wednesday, July 8th. Wall Street Zen downgraded MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Wells Fargo & Company lowered their target price on MannKind from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price target on shares of MannKind in a report on Friday, September 11th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.34.

Get Our Latest Report on MNKD

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of MannKind by 138.9% during the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock worth $33,419,000 after buying an additional 4,561,628 shares during the period. Frazier Life Sciences Management L.P. raised its stake in MannKind by 11.9% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock worth $28,116,000 after buying an additional 700,000 shares during the period. Dimensional Fund Advisors LP boosted its holdings in MannKind by 11.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock worth $12,134,000 after acquiring an additional 509,692 shares in the last quarter. 180 Wealth Advisors LLC grew its stake in MannKind by 45.0% in the first quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock valued at $10,515,000 after acquiring an additional 1,332,759 shares during the period. Finally, Braidwell LP acquired a new stake in MannKind in the second quarter valued at approximately $14,733,000. Institutional investors own 49.55% of the company’s stock.

MannKind Company Profile

(Get 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).

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