Key Points
- CEO Michael Castagna sold 107,920 MannKind shares on Dec. 2 at an average of $5.57, generating $601,114 and reducing his ownership by 4.13% to 2,504,792 shares (≈$13.95M).
- MannKind beat Q expectations with $0.03 EPS (vs. $0.01 est.) and $82.13M revenue (+17.1% YoY); the stock trades near $5.67 (52‑week range $3.38–$7.07), has a $1.74B market cap, and carries a consensus "Moderate Buy" with a $10.06 target.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) CEO Michael Castagna sold 107,920 shares of MannKind stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $5.57, for a total transaction of $601,114.40. Following the transaction, the chief executive officer directly owned 2,504,792 shares of the company's stock, valued at approximately $13,951,691.44. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
MannKind Stock Performance
Shares of MNKD opened at $5.67 on Friday. MannKind Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $7.07. The firm's 50-day simple moving average is $5.38 and its two-hundred day simple moving average is $4.63. The stock has a market cap of $1.74 billion, a PE ratio of 56.65 and a beta of 0.82.
MannKind (NASDAQ:MNKD - Get Free Report) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $82.13 million during the quarter, compared to analyst estimates of $80.47 million. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. The business's revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $0.04 earnings per share. Equities research analysts predict that MannKind Corporation will post 0.1 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC raised its stake in MannKind by 68.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company's stock valued at $1,636,000 after buying an additional 177,440 shares during the last quarter. Geode Capital Management LLC grew its holdings in MannKind by 12.3% during the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company's stock valued at $28,494,000 after purchasing an additional 831,478 shares during the period. TSP Capital Management Group LLC grew its holdings in MannKind by 7.2% during the second quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company's stock valued at $11,155,000 after purchasing an additional 201,225 shares during the period. Simon Quick Advisors LLC purchased a new stake in MannKind in the second quarter worth about $180,000. Finally, Intech Investment Management LLC raised its stake in shares of MannKind by 39.3% in the second quarter. Intech Investment Management LLC now owns 231,886 shares of the biopharmaceutical company's stock worth $867,000 after buying an additional 65,480 shares during the period. 49.55% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
MNKD has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on MannKind from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Tuesday, November 11th. HC Wainwright restated a "buy" rating on shares of MannKind in a research note on Monday, November 10th. Truist Financial set a $9.00 target price on shares of MannKind in a research note on Monday, November 24th. Oppenheimer increased their price target on shares of MannKind from $12.00 to $15.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of MannKind in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.06.
Get Our Latest Stock Analysis on MNKD
About MannKind
(
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.
Further Reading
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