MannKind Corporation $MNKD Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC increased its holdings in shares of MannKind Corporation (NASDAQ:MNKD) by 12.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,465,824 shares of the biopharmaceutical company’s stock after purchasing an additional 161,122 shares during the period. Squarepoint Ops LLC owned 0.48% of MannKind worth $5,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in MannKind by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company’s stock worth $87,131,000 after acquiring an additional 1,263,622 shares during the period. Invesco Ltd. increased its position in shares of MannKind by 11.9% during the first quarter. Invesco Ltd. now owns 1,365,850 shares of the biopharmaceutical company’s stock worth $6,870,000 after acquiring an additional 145,015 shares during the last quarter. Virtu Financial LLC purchased a new position in MannKind in the first quarter valued at about $70,000. Nuveen LLC acquired a new stake in MannKind during the 1st quarter valued at approximately $17,011,000. Finally, Fox Run Management L.L.C. increased its holdings in MannKind by 184.5% during the 1st quarter. Fox Run Management L.L.C. now owns 74,024 shares of the biopharmaceutical company’s stock worth $372,000 after purchasing an additional 48,009 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Activity at MannKind

In other MannKind news, CEO Michael Castagna sold 107,920 shares of MannKind stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $5.57, for a total transaction of $601,114.40. Following the sale, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at $13,951,691.44. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sanjay R. Singh sold 18,777 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the completion of the transaction, the executive vice president directly owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. The trade was a 3.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,697 shares of company stock worth $946,543 in the last three months. 3.00% of the stock is owned by company insiders.

MannKind Price Performance

Shares of NASDAQ MNKD opened at $5.94 on Monday. The firm has a market capitalization of $1.82 billion, a PE ratio of 59.40 and a beta of 0.82. MannKind Corporation has a 1-year low of $3.38 and a 1-year high of $7.07. The business’s fifty day moving average price is $5.42 and its two-hundred day moving average price is $4.70.

MannKind (NASDAQ:MNKD) last released 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 business 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 company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Equities research analysts expect that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MNKD shares. Wells Fargo & Company decreased their price target on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Zacks Research raised shares of MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of MannKind in a research note on Wednesday, October 8th. Truist Financial set a $9.00 price objective on MannKind in a report on Monday, November 24th. Finally, Royal Bank Of Canada reduced their target price on MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.06.

MannKind Company Profile

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.