Key Points
- Director Steven Binder sold 39,051 MannKind shares at an average price of $4.06, generating approximately $158,547 and reducing his holdings by 4.73% to 785,867 shares.
- MannKind shares opened at $3.93 after falling 4.4%; the stock has traded between $2.23 and $6.51 over the past year, with a market capitalization of about $1.21 billion.
- Analyst sentiment remains mixed but averages a “Moderate Buy” rating, with a consensus price target of $9.22; institutional investors own approximately 49.55% of the company.
MannKind Corporation (NASDAQ:MNKD - Get Free Report) Director Steven Binder sold 39,051 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $4.06, for a total value of $158,547.06. Following the sale, the director owned 785,867 shares of the company's stock, valued at approximately $3,190,620.02. This represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
MannKind Trading Down 4.4%
Shares of NASDAQ:MNKD opened at $3.93 on Tuesday. MannKind Corporation has a 12-month low of $2.23 and a 12-month high of $6.51. The company has a market capitalization of $1.21 billion, a PE ratio of -30.23 and a beta of 1.12. The business has a 50 day moving average of $3.94 and a two-hundred day moving average of $3.75.
Analysts Set New Price Targets
Several analysts have recently weighed in on MNKD shares. Weiss Ratings reissued a "sell (d)" rating on shares of MannKind in a research note on Wednesday, July 8th. Wall Street Zen lowered MannKind from a "hold" rating to a "sell" rating in a research report on Saturday. Zacks Research raised MannKind from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada lifted their target price on MannKind from $3.50 to $4.75 and gave the company a "sector perform" rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company decreased their price target on MannKind from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MannKind currently has an average rating of "Moderate Buy" and a consensus price target of $9.22.
Check Out Our Latest Stock Analysis on MNKD
Hedge Funds Weigh In On MannKind
A number of hedge funds have recently modified their holdings of MNKD. Caitong International Asset Management Co. Ltd raised its position in MannKind by 108.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 2,927 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of MannKind during the fourth quarter worth about $45,000. Huntington National Bank increased its stake in shares of MannKind by 420.0% during the fourth quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company's stock worth $59,000 after acquiring an additional 8,400 shares during the period. Laurel Wealth Advisors LLC purchased a new position in MannKind during the fourth quarter worth about $60,000. Finally, Lido Advisors LLC purchased a new position in MannKind during the fourth quarter worth about $63,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.
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. 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).
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
