Key Points
- Michael Castagna, MannKind's CEO, purchased 100,000 shares on March 10 at $2.59 each for $259,000, raising his holdings to 2,575,911 shares (a 4.04% increase).
- The buy follows sizable insider sales in December when Castagna sold about 107,920 shares across three transactions at roughly $6.00 per share, generating about $648,000 in proceeds.
- MannKind stock opened at $2.61 (52‑week range $2.52–$6.51) with a market cap of ~$804M; Q4 revenue rose 45.8% to $111.96M but EPS missed at ($0.05), and analysts hold a consensus "Moderate Buy" with a $9.06 target.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) CEO Michael Castagna bought 100,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $2.59 per share, for a total transaction of $259,000.00. Following the acquisition, the chief executive officer owned 2,575,911 shares in the company, valued at $6,671,609.49. The trade was a 4.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Michael Castagna also recently made the following trade(s):
- On Wednesday, December 17th, Michael Castagna sold 65,804 shares of MannKind stock. The shares were sold at an average price of $6.01, for a total transaction of $395,482.04.
- On Friday, December 12th, Michael Castagna sold 20,806 shares of MannKind stock. The stock was 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 stock was sold at an average price of $6.00, for a total value of $127,860.00.
MannKind Price Performance
MNKD stock opened at $2.61 on Wednesday. The stock has a market capitalization of $804.14 million, a price-to-earnings ratio of 130.57 and a beta of 0.83. The business has a fifty day moving average price of $5.13 and a 200 day moving average price of $5.32. MannKind Corporation has a fifty-two week low of $2.52 and a fifty-two week high of $6.51.
MannKind (NASDAQ:MNKD - Get Free Report) last announced its earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). MannKind had a negative return on equity of 11.21% and a net margin of 1.68%.The business had revenue of $111.96 million for the quarter, compared to the consensus estimate of $99.85 million. During the same quarter in the previous year, the company posted $0.03 EPS. MannKind's revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities analysts expect that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On MannKind
Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in MannKind by 19.8% during the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company's stock worth $278,000 after buying an additional 9,160 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in MannKind by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company's stock valued at $1,059,000 after purchasing an additional 6,079 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in MannKind by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company's stock valued at $3,374,000 after purchasing an additional 53,202 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in MannKind by 4.7% in the second 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 during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of MannKind by 68.3% during the second quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company's stock worth $1,636,000 after purchasing an additional 177,440 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have weighed in on MNKD. Wall Street Zen cut shares of MannKind from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Truist Financial set a $9.00 price objective on shares of MannKind in a research report on Monday, November 24th. Wells Fargo & Company decreased their price objective on MannKind from $8.00 to $7.00 and set an "overweight" rating on the stock in a research report on Friday, February 27th. Weiss Ratings downgraded MannKind from a "hold (c)" rating to a "sell (d+)" rating in a research report on Monday, March 2nd. Finally, Leerink Partners started coverage on MannKind in a report on Thursday, November 13th. They issued an "outperform" rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, MannKind currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.06.
View Our Latest Stock Report 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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