Key Points
- CEO insider sales: MannKind CEO Michael Castagna sold 20,806 shares on Dec. 12 and also sold 21,310 (Dec. 16) and 107,920 (Dec. 2) shares — about 150,036 shares total for roughly $854k — leaving him with approximately 2,504,792 shares.
- Company outlook: Shares trade near $5.91 (12‑month range $3.38–$7.07) after a recent quarter that beat EPS and revenue estimates, and analysts have a consensus "Moderate Buy" with an average target of $10.06.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) CEO Michael Castagna sold 20,806 shares of the firm's stock in a transaction on Friday, December 12th. The stock was sold at an average price of $6.00, for a total transaction of $124,836.00. Following the sale, the chief executive officer owned 2,504,792 shares in the company, valued at approximately $15,028,752. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Michael Castagna also recently made the following trade(s):
- On Tuesday, December 16th, Michael Castagna sold 21,310 shares of MannKind stock. The shares were sold at an average price of $6.00, for a total value of $127,860.00.
- On Tuesday, December 2nd, Michael Castagna sold 107,920 shares of MannKind stock. The stock was sold at an average price of $5.57, for a total value of $601,114.40.
MannKind Stock Down 0.5%
Shares of MNKD opened at $5.91 on Wednesday. MannKind Corporation has a twelve month low of $3.38 and a twelve month high of $7.07. The company has a 50 day moving average of $5.43 and a 200-day moving average of $4.73. The stock has a market capitalization of $1.81 billion, a P/E ratio of 59.10 and a beta of 0.82.
MannKind (NASDAQ:MNKD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $82.13 million for the quarter, compared to analysts' expectations of $80.47 million. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. The company's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 EPS. On average, sell-side analysts anticipate that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Level Four Advisory Services LLC raised its position in MannKind by 12.5% during the 3rd quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 1,925 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of MannKind by 1.4% in the third quarter. Franklin Resources Inc. now owns 162,217 shares of the biopharmaceutical company's stock valued at $871,000 after buying an additional 2,201 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of MannKind by 9.7% during the second quarter. Ameritas Investment Partners Inc. now owns 30,913 shares of the biopharmaceutical company's stock worth $116,000 after acquiring an additional 2,739 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of MannKind by 4.7% during the second quarter. Teacher Retirement System of Texas now owns 77,726 shares of the biopharmaceutical company's stock worth $291,000 after acquiring an additional 3,506 shares during the last quarter. Finally, Palumbo Wealth Management LLC lifted its stake in shares of MannKind by 4.0% in the second quarter. Palumbo Wealth Management LLC now owns 101,438 shares of the biopharmaceutical company's stock worth $379,000 after acquiring an additional 3,921 shares during the period. Institutional investors and hedge funds own 49.55% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on MNKD. Zacks Research upgraded shares of MannKind from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Leerink Partners initiated coverage on shares of MannKind in a report on Thursday, November 13th. They issued an "outperform" rating and a $7.00 target price on the stock. Wells Fargo & Company reduced their price target on MannKind from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, November 11th. Weiss Ratings reissued a "hold (c)" rating on shares of MannKind in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their target price on MannKind from $8.00 to $7.50 and set an "outperform" rating for the company in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, MannKind has a consensus rating of "Moderate Buy" and an average target price of $10.06.
Read Our Latest Stock Report on MannKind
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.
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