Vanguard Group Inc. Has $94.68 Million Holdings in MannKind Corporation $MNKD

Vanguard Group Inc. decreased its stake in shares of MannKind Corporation (NASDAQ:MNKD) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,630,583 shares of the biopharmaceutical company’s stock after selling 530,280 shares during the quarter. Vanguard Group Inc. owned about 5.75% of MannKind worth $94,676,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MNKD. Calamos Advisors LLC acquired a new position in shares of MannKind during the third quarter valued at about $1,240,000. Los Angeles Capital Management LLC raised its stake in MannKind by 68.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company’s stock worth $1,636,000 after buying an additional 177,440 shares during the period. Geode Capital Management LLC grew its stake in MannKind by 12.3% in the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock valued at $28,494,000 after acquiring an additional 831,478 shares during the period. 180 Wealth Advisors LLC increased its holdings in shares of MannKind by 11.2% during the third quarter. 180 Wealth Advisors LLC now owns 2,872,286 shares of the biopharmaceutical company’s stock valued at $15,424,000 after acquiring an additional 290,276 shares in the last quarter. Finally, TSP Capital Management Group LLC raised its position in shares of MannKind by 7.2% during the second quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company’s stock worth $11,155,000 after purchasing an additional 201,225 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MNKD. Wells Fargo & Company reduced their price target on shares of MannKind from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Weiss Ratings lowered shares of MannKind from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $3.50 price objective (down from $7.50) on shares of MannKind in a report on Friday, February 27th. Wall Street Zen lowered shares of MannKind from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Truist Financial set a $9.00 price target on shares of MannKind in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.06.

MannKind Price Performance

NASDAQ MNKD opened at $2.83 on Friday. The company has a fifty day moving average price of $5.31 and a 200-day moving average price of $5.33. The firm has a market cap of $871.92 million, a price-to-earnings ratio of 141.57 and a beta of 0.83. MannKind Corporation has a 1 year low of $2.81 and a 1 year high of $6.51.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). MannKind had a net margin of 1.68% and a negative return on equity of 11.21%. The firm had revenue of $111.96 million for the quarter, compared to the consensus estimate of $99.85 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, research analysts anticipate that MannKind Corporation will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other MannKind news, insider Stuart A. Tross sold 47,006 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $6.33, for a total value of $297,547.98. Following the transaction, the insider owned 985,007 shares of the company’s stock, valued at approximately $6,235,094.31. The trade was a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Castagna sold 65,804 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $6.01, for a total value of $395,482.04. Following the completion of the transaction, the chief executive officer owned 2,504,792 shares of the company’s stock, valued at $15,053,799.92. This trade represents a 2.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 154,926 shares of company stock worth $945,726 in the last 90 days. Company insiders own 2.70% of the company’s stock.

MannKind Company Profile

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.