MannKind (NASDAQ:MNKD) Shares Gap Up to $4.35

MannKind Co. (NASDAQ:MNKDGet Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $4.35, but opened at $4.45. MannKind shares last traded at $4.48, with a volume of 618,931 shares.

Analyst Ratings Changes

MNKD has been the subject of several recent analyst reports. HC Wainwright upped their price objective on shares of MannKind from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Monday, August 14th. StockNews.com initiated coverage on shares of MannKind in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Cantor Fitzgerald upped their price objective on shares of MannKind from $6.50 to $7.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th.

Get Our Latest Stock Report on MannKind

MannKind Stock Down 0.7 %

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -22.79 and a beta of 1.58. The company has a 50 day simple moving average of $4.61 and a 200 day simple moving average of $4.34.

MannKind (NASDAQ:MNKDGet Free Report) last issued its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $48.61 million for the quarter, compared to analyst estimates of $42.03 million. As a group, analysts predict that MannKind Co. will post -0.07 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP David Thomson sold 8,100 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $4.78, for a total value of $38,718.00. Following the completion of the transaction, the executive vice president now owns 798,835 shares of the company’s stock, valued at $3,818,431.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other MannKind news, EVP David Thomson sold 8,100 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $4.78, for a total transaction of $38,718.00. Following the completion of the sale, the executive vice president now owns 798,835 shares of the company’s stock, valued at approximately $3,818,431.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Castagna sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $4.57, for a total transaction of $45,700.00. Following the sale, the chief executive officer now directly owns 2,496,735 shares of the company’s stock, valued at approximately $11,410,078.95. The disclosure for this sale can be found here. Insiders sold 38,100 shares of company stock valued at $171,218 over the last quarter. 4.00% of the stock is owned by company insiders.

Institutional Trading of MannKind

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNKD. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MannKind during the 4th quarter worth approximately $1,652,000. Arizona State Retirement System lifted its stake in MannKind by 5.0% during the 1st quarter. Arizona State Retirement System now owns 72,449 shares of the biopharmaceutical company’s stock valued at $297,000 after acquiring an additional 3,465 shares in the last quarter. E Fund Management Co. Ltd. increased its position in shares of MannKind by 16.8% during the 1st quarter. E Fund Management Co. Ltd. now owns 78,504 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 11,303 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of MannKind during the 4th quarter valued at $67,000. Finally, Globeflex Capital L P purchased a new stake in shares of MannKind during the 4th quarter valued at $586,000. Institutional investors and hedge funds own 49.95% of the company’s stock.

MannKind Company Profile

(Get Free Report)

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.

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