Nitorum Capital L.P. Sells 410,191 Shares of MannKind Co. (NASDAQ:MNKD)

Nitorum Capital L.P. lessened its stake in MannKind Co. (NASDAQ:MNKD) by 4.5% in the 4th quarter, HoldingsChannel reports. The fund owned 8,747,316 shares of the biopharmaceutical company’s stock after selling 410,191 shares during the quarter. MannKind accounts for about 6.5% of Nitorum Capital L.P.’s holdings, making the stock its 4th biggest holding. Nitorum Capital L.P.’s holdings in MannKind were worth $56,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of MannKind by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 16,058,557 shares of the biopharmaceutical company’s stock valued at $103,257,000 after purchasing an additional 420,334 shares during the last quarter. Geode Capital Management LLC lifted its holdings in MannKind by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,374,274 shares of the biopharmaceutical company’s stock worth $40,996,000 after buying an additional 35,346 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in MannKind by 275.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,887,609 shares of the biopharmaceutical company’s stock valued at $31,427,000 after buying an additional 3,587,484 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MannKind by 40.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,958,219 shares of the biopharmaceutical company’s stock valued at $19,022,000 after buying an additional 855,261 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of MannKind by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,270,106 shares of the biopharmaceutical company’s stock worth $14,597,000 after acquiring an additional 45,277 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Price Performance

MannKind stock opened at $4.74 on Friday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 67.71 and a beta of 1.22. The company’s 50 day simple moving average is $5.01 and its 200 day simple moving average is $5.95. MannKind Co. has a fifty-two week low of $4.11 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company had revenue of $76.78 million for the quarter, compared to analysts’ expectations of $74.99 million. As a group, analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Mizuho assumed coverage on MannKind in a report on Thursday, April 10th. They issued an “outperform” rating and a $12.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of MannKind in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $9.56.

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.