MannKind (NASDAQ:MNKD) Director Sells $55,732.60 in Stock

MannKind Corporation (NASDAQ:MNKD) Director Steven Binder sold 16,940 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $3.29, for a total transaction of $55,732.60. Following the completion of the sale, the director directly owned 808,008 shares in the company, valued at approximately $2,658,346.32. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MannKind Price Performance

NASDAQ:MNKD traded down $0.07 during mid-day trading on Wednesday, hitting $3.21. The company’s stock had a trading volume of 4,509,763 shares, compared to its average volume of 6,492,920. MannKind Corporation has a 1 year low of $2.23 and a 1 year high of $6.51. The stock has a market cap of $991.73 million, a price-to-earnings ratio of -45.85 and a beta of 1.04. The business’s fifty day moving average is $2.74 and its two-hundred day moving average is $4.53.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). MannKind had a negative net margin of 6.63% and a negative return on equity of 11.21%. The business had revenue of $90.17 million during the quarter, compared to analysts’ expectations of $105.38 million. During the same period in the previous year, the company posted $0.04 earnings per share. MannKind’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts anticipate that MannKind Corporation will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MNKD. Zacks Research raised shares of MannKind from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Wedbush lowered their target price on shares of MannKind from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. HC Wainwright increased their target price on shares of MannKind from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of MannKind from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Royal Bank Of Canada increased their target price on shares of MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.84.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MNKD. Level Four Advisory Services LLC increased its holdings in shares of MannKind by 12.5% during the 3rd quarter. Level Four Advisory Services LLC now owns 17,333 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 1,925 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of MannKind by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 162,217 shares of the biopharmaceutical company’s stock worth $871,000 after buying an additional 2,201 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of MannKind by 1.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 200,763 shares of the biopharmaceutical company’s stock worth $1,138,000 after buying an additional 2,355 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of MannKind by 7.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 33,405 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 2,404 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of MannKind by 6.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,234 shares of the biopharmaceutical company’s stock worth $220,000 after purchasing an additional 2,443 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

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).