Key Points
- Michael Castagna, MannKind's CEO, sold 65,804 shares on December 17 at an average price of $6.01 for roughly $395,482, cutting his stake to 2,504,792 shares (a 2.56% ownership decline).
- Including earlier December sales (Dec 2: 107,920 shares at $5.57; Dec 12: 20,806 at $6.00; Dec 16: 21,310 at $6.00), he disposed of a total of 215,840 shares for about $1.25 million.
- MNKD shares were down ~2.2% on the day; the company has a $1.79 billion market cap, recently reported a quarterly EPS beat with revenue up 17.1% year‑over‑year, and carries a MarketBeat consensus rating of "Moderate Buy" with a $10.06 target.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) CEO Michael Castagna sold 65,804 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $6.01, for a total transaction of $395,482.04. Following the completion of the sale, the chief executive officer owned 2,504,792 shares in the company, valued at approximately $15,053,799.92. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Michael Castagna also recently made the following trade(s):
- On Friday, December 12th, Michael Castagna sold 20,806 shares of MannKind stock. The shares were sold at an average price of $6.00, for a total transaction of $124,836.00.
- 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 transaction 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 Trading Down 2.2%
MNKD stock opened at $5.84 on Friday. MannKind Corporation has a 1-year low of $3.38 and a 1-year high of $7.07. The firm has a market cap of $1.79 billion, a PE ratio of 58.40 and a beta of 0.82. The business's 50-day moving average price is $5.47 and its two-hundred day moving average price is $4.76.
MannKind (NASDAQ:MNKD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $82.13 million during the quarter, compared to the consensus estimate of $80.47 million. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. On average, analysts forecast that MannKind Corporation will post 0.1 earnings per share for the current year.
Institutional Trading of MannKind
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Level Four Advisory Services LLC raised its holdings in MannKind by 12.5% during the third quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company's stock worth $93,000 after acquiring an additional 1,925 shares in the last quarter. Franklin Resources Inc. increased its position in shares of MannKind by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 162,217 shares of the biopharmaceutical company's stock worth $871,000 after purchasing an additional 2,201 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of MannKind by 9.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 30,913 shares of the biopharmaceutical company's stock worth $116,000 after purchasing an additional 2,739 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of MannKind by 4.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 77,726 shares of the biopharmaceutical company's stock worth $291,000 after purchasing an additional 3,506 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in shares of MannKind by 4.0% in the 2nd quarter. Palumbo Wealth Management LLC now owns 101,438 shares of the biopharmaceutical company's stock valued at $379,000 after buying an additional 3,921 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MNKD. Truist Financial set a $9.00 price target on shares of MannKind in a research note on Monday, November 24th. HC Wainwright restated a "buy" rating on shares of MannKind in a report on Monday, November 10th. Royal Bank Of Canada cut their price objective on shares of MannKind from $8.00 to $7.50 and set an "outperform" rating on the stock in a research report on Tuesday, November 11th. Wells Fargo & Company reduced their target price on shares of MannKind from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday, November 11th. Finally, Leerink Partners began coverage on MannKind in a report on Thursday, November 13th. They set an "outperform" rating and a $7.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, MannKind currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.06.
Check Out Our Latest Stock Analysis on MNKD
MannKind Company Profile
(
Get Free Report)
MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company's core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind's lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.
Afrezza received U.S.
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