Jump Financial LLC lowered its stake in shares of MannKind Co. (NASDAQ:MNKD – Free Report) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,024 shares of the biopharmaceutical company’s stock after selling 48,159 shares during the quarter. Jump Financial LLC owned about 0.12% of MannKind worth $2,064,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. XTX Topco Ltd increased its stake in MannKind by 48.9% during the 4th quarter. XTX Topco Ltd now owns 67,396 shares of the biopharmaceutical company’s stock valued at $433,000 after purchasing an additional 22,148 shares in the last quarter. Mariner LLC purchased a new stake in shares of MannKind during the fourth quarter valued at $1,693,000. Barclays PLC increased its position in shares of MannKind by 6.2% in the 4th quarter. Barclays PLC now owns 552,143 shares of the biopharmaceutical company’s stock valued at $3,550,000 after acquiring an additional 32,278 shares during the period. Summit Investment Advisors Inc. raised its stake in MannKind by 10.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 28,174 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 2,657 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in MannKind during the 4th quarter worth about $4,209,000. 49.55% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on MNKD shares. Wells Fargo & Company started coverage on MannKind in a report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price objective on the stock. StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price objective on shares of MannKind in a report on Thursday, February 27th. Finally, Mizuho began coverage on shares of MannKind in a report on Thursday, April 10th. They set an “outperform” rating and a $12.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.56.
MannKind Stock Performance
Shares of MannKind stock opened at $4.54 on Friday. The company has a market cap of $1.38 billion, a P/E ratio of 64.86 and a beta of 1.22. MannKind Co. has a fifty-two week low of $4.02 and a fifty-two week high of $7.63. The firm has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $6.01.
MannKind (NASDAQ:MNKD – Get Free Report) last announced its earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $76.78 million for the quarter, compared to analyst estimates of $74.99 million. MannKind had a negative return on equity of 17.74% and a net margin of 8.07%. Equities research analysts forecast that MannKind Co. will post 0.1 EPS for the current year.
MannKind Profile
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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