Insider Selling: MannKind (NASDAQ:MNKD) Director Sells $158,547.06 in Stock

MannKind Corporation (NASDAQ:MNKD) Director Steven Binder sold 39,051 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $4.06, for a total transaction of $158,547.06. Following the completion of the transaction, the director owned 785,867 shares in the company, valued at approximately $3,190,620.02. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

MannKind Price Performance

Shares of MannKind stock opened at $3.85 on Thursday. MannKind Corporation has a 1 year low of $2.23 and a 1 year high of $6.51. The firm has a market cap of $1.24 billion, a PE ratio of -29.62 and a beta of 1.12. The company has a 50 day simple moving average of $3.96 and a two-hundred day simple moving average of $3.73.

Hedge Funds Weigh In On MannKind

A number of large investors have recently added to or reduced their stakes in the business. Krilogy Financial LLC purchased a new stake in MannKind during the first quarter valued at about $28,000. Independent Financial Group LLC bought a new stake in shares of MannKind in the 1st quarter valued at about $31,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 valued at $32,000 after acquiring an additional 2,927 shares during the period. Waverly Advisors LLC purchased a new stake in MannKind during the 1st quarter valued at about $43,000. Finally, International Assets Investment Management LLC bought a new position in MannKind during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Wall Street Zen cut MannKind from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. HC Wainwright reiterated a “buy” rating on shares of MannKind in a research report on Thursday, July 23rd. Finally, Mizuho decreased their price objective on MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.22.

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. 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).