Steven B. Binder Sells 47,810 Shares of MannKind Co. (NASDAQ:MNKD) Stock

MannKind Co. (NASDAQ:MNKD – Get Rating) CFO Steven B. Binder sold 47,810 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $4.67, for a total transaction of $223,272.70. Following the transaction, the chief financial officer now directly owns 838,324 shares in the company, valued at approximately $3,914,973.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

MannKind Stock Down 3.4 %

MNKD opened at $4.55 on Friday. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -16.25 and a beta of 1.58. MannKind Co. has a fifty-two week low of $2.91 and a fifty-two week high of $5.73. The company’s 50-day moving average price is $4.13 and its 200 day moving average price is $4.60.

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

Institutional Investors Weigh In On MannKind

Large investors have recently made changes to their positions in the company. Jump Financial LLC increased its stake in shares of MannKind by 900.9% in the third quarter. Jump Financial LLC now owns 217,200 shares of the biopharmaceutical company’s stock valued at $671,000 after purchasing an additional 195,500 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in shares of MannKind in the fourth quarter valued at approximately $508,000. Virtu Financial LLC increased its stake in shares of MannKind by 562.9% in the third quarter. Virtu Financial LLC now owns 107,005 shares of the biopharmaceutical company’s stock valued at $331,000 after purchasing an additional 90,863 shares during the period. Globeflex Capital L P acquired a new stake in shares of MannKind in the fourth quarter valued at approximately $586,000. Finally, MetLife Investment Management LLC increased its stake in shares of MannKind by 18.1% during the third quarter. MetLife Investment Management LLC now owns 133,420 shares of the biopharmaceutical company’s stock valued at $412,000 after acquiring an additional 20,487 shares during the period. Institutional investors and hedge funds own 49.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MNKD. HC Wainwright increased their price objective on shares of MannKind from $6.00 to $7.00 in a research note on Monday, February 27th. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Friday, May 12th.

MannKind Company Profile

(Get Rating)

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.