MannKind (NASDAQ:MNKD) Insider Stuart Tross Sells 47,006 Shares

by · The Cerbat Gem

MannKind Corporation (NASDAQ:MNKD – Get Free Report) insider Stuart Tross sold 47,006 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $6.33, for a total value of $297,547.98. Following the completion of the sale, the insider owned 985,007 shares in the company, valued at approximately $6,235,094.31. This represents a 4.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

MannKind Stock Performance

MNKD stock traded down $0.16 during midday trading on Friday, hitting $5.85. 2,602,399 shares of the stock were exchanged, compared to its average volume of 3,372,845. The stock’s 50-day moving average price is $5.59 and its 200-day moving average price is $4.94. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 58.50 and a beta of 0.81. MannKind Corporation has a fifty-two week low of $3.38 and a fifty-two week high of $6.51.

MannKind (NASDAQ:MNKD – Get Free Report) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $82.13 million for the quarter, compared to analyst estimates of $80.47 million. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.MannKind’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. Research analysts anticipate that MannKind Corporation will post 0.1 EPS for the current year.

Institutional Investors Weigh In On MannKind

Hedge funds have recently made changes to their positions in the business. Quaker Wealth Management LLC lifted its position in MannKind by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 7,000 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 14,000 shares during the period. Farther Finance Advisors LLC increased its stake in shares of MannKind by 1,379.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 7,396 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 6,896 shares during the last quarter. Burkett Financial Services LLC acquired a new position in shares of MannKind during the 4th quarter valued at about $59,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of MannKind during the 2nd quarter worth about $42,000. Finally, Master S Wealth Management Inc. acquired a new stake in shares of MannKind in the second quarter worth approximately $44,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MNKD. Leerink Partners began coverage on shares of MannKind in a report on Thursday, November 13th. They issued an “outperform” rating and a $7.00 price target on the stock. Royal Bank Of Canada reduced their target price on MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research report on Wednesday, October 8th. Truist Financial set a $9.00 price target on MannKind in a report on Monday, November 24th. Finally, Wall Street Zen raised MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, MannKind currently has an average rating of “Moderate Buy” and an average target price of $10.06.

View Our Latest Stock Analysis on MNKD

About MannKind

(Get Free Report)

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.

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