Swiss National Bank Grows Position in MannKind Co. (NASDAQ:MNKD)

Swiss National Bank increased its holdings in MannKind Co. (NASDAQ:MNKD – Get Rating) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 590,300 shares of the biopharmaceutical company’s stock after acquiring an additional 21,300 shares during the quarter. Swiss National Bank owned about 0.22% of MannKind worth $3,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its stake in MannKind by 17.9% in the third quarter. Oppenheimer & Co. Inc. now owns 19,800 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 3,000 shares during the period. Arizona State Retirement System lifted its stake in MannKind by 5.8% in the fourth quarter. Arizona State Retirement System now owns 68,984 shares of the biopharmaceutical company’s stock worth $364,000 after acquiring an additional 3,781 shares during the period. Credit Suisse AG lifted its stake in MannKind by 2.5% in the second quarter. Credit Suisse AG now owns 198,351 shares of the biopharmaceutical company’s stock worth $756,000 after acquiring an additional 4,773 shares during the period. LPL Financial LLC lifted its stake in MannKind by 9.1% in the second quarter. LPL Financial LLC now owns 59,259 shares of the biopharmaceutical company’s stock worth $226,000 after acquiring an additional 4,950 shares during the period. Finally, US Bancorp DE lifted its stake in MannKind by 53.2% in the first quarter. US Bancorp DE now owns 14,257 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 4,952 shares during the period. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on MNKD shares. StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a research note on Friday, May 12th. HC Wainwright increased their price objective on MannKind from $6.00 to $7.00 in a report on Monday, February 27th.

MannKind Trading Up 3.7 %

MNKD opened at $4.79 on Tuesday. The stock has a fifty day simple moving average of $4.11 and a two-hundred day simple moving average of $4.59. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -17.11 and a beta of 1.58. MannKind Co. has a 12-month low of $2.91 and a 12-month high of $5.73.

MannKind (NASDAQ:MNKD – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $40.63 million for the quarter, compared to the consensus estimate of $37.40 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. MannKind’s revenue was up 238.8% compared to the same quarter last year. On average, analysts predict that MannKind Co. will post -0.14 EPS for the current year.

Insider Activity

In other news, CEO Michael Castagna sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $5.27, for a total transaction of $52,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,040,128 shares in the company, valued at $10,751,474.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 30,000 shares of company stock worth $134,000 over the last three months. 4.00% of the stock is currently owned by corporate insiders.

About MannKind

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MannKind Corp. is a biopharmaceutical company, which engages in the development and commercialization of therapeutic products and devices for those with endocrine and orphan lung diseases. The company was founded by Alfred E. Mann on February 14, 1991 and is headquartered in Danbury, CT.