Steven B. Binder Sells 67,536 Shares of MannKind Co. (NASDAQ:MNKD) Stock

MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder sold 67,536 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the transaction, the director now owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. This trade represents a 5.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

MannKind Price Performance

MannKind stock opened at $6.58 on Wednesday. The firm has a market cap of $1.81 billion, a PE ratio of 94.00 and a beta of 1.30. The stock’s fifty day moving average price is $6.71 and its two-hundred day moving average price is $5.78. MannKind Co. has a one year low of $3.17 and a one year high of $7.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Leerink Partners started coverage on MannKind in a report on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com cut MannKind from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, Oppenheimer boosted their target price on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MannKind currently has an average rating of “Buy” and an average price target of $8.67.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,816 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock worth $136,000 after acquiring an additional 2,783 shares during the period. AQR Capital Management LLC boosted its position in shares of MannKind by 8.1% during the 2nd quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock worth $223,000 after acquiring an additional 3,214 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in MannKind by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock valued at $529,000 after purchasing an additional 3,374 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of MannKind by 6.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock valued at $357,000 after purchasing an additional 3,861 shares in the last quarter. Institutional investors own 49.55% of the company’s stock.

MannKind Company 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.