MannKind Corporation $MNKD Stock Acquired by TSP Capital Management Group LLC

TSP Capital Management Group LLC increased its stake in MannKind Corporation (NASDAQ:MNKD) by 5.2% in the third quarter, Holdings Channel.com reports. The firm owned 4,180,525 shares of the biopharmaceutical company’s stock after purchasing an additional 207,850 shares during the quarter. MannKind makes up approximately 4.2% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 9th largest position. TSP Capital Management Group LLC’s holdings in MannKind were worth $16,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MNKD. Wellington Management Group LLP increased its holdings in MannKind by 138.9% during the 2nd quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock worth $33,419,000 after purchasing an additional 4,561,628 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of MannKind by 11.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock valued at $28,116,000 after purchasing an additional 700,000 shares during the period. Braidwell LP acquired a new stake in shares of MannKind in the 2nd quarter valued at about $14,733,000. Dimensional Fund Advisors LP lifted its holdings in shares of MannKind by 11.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock valued at $12,134,000 after purchasing an additional 509,692 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of MannKind by 45.0% in the first quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock valued at $10,515,000 after purchasing an additional 1,332,759 shares in the last quarter. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Trading Up 5.6%

Shares of MNKD opened at $3.19 on Friday. MannKind Corporation has a 12 month low of $2.23 and a 12 month high of $6.51. The firm has a fifty day simple moving average of $3.75 and a 200 day simple moving average of $3.57. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -24.54 and a beta of 1.09.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $109.37 million during the quarter, compared to the consensus estimate of $108.08 million. During the same period last year, the business posted $0.05 EPS. The firm’s revenue for the quarter was up 43.0% on a year-over-year basis. As a group, research analysts predict that MannKind Corporation will post -0.20 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on MNKD. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research report on Friday, October 2nd. HC Wainwright reiterated a “buy” rating on shares of MannKind in a report on Thursday, July 23rd. Wall Street Zen lowered MannKind from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 target price on shares of MannKind in a research note on Friday, September 11th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MannKind currently has an average rating of “Moderate Buy” and a consensus target price of $7.84.

Insider Buying and Selling

In other news, Director Steven Binder sold 39,051 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $3.29, for a total transaction of $128,477.79. Following the completion of the transaction, the director directly owned 713,258 shares in the company, valued at $2,346,618.82. This represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 111,660 shares of company stock worth $414,881. Insiders own 2.60% of the company’s stock.

About MannKind

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).