Parkman Healthcare Partners LLC Purchases 894,486 Shares of MannKind Co. (NASDAQ:MNKD)

Parkman Healthcare Partners LLC grew its holdings in shares of MannKind Co. (NASDAQ:MNKD) by 37.1% in the 3rd quarter, Holdings Channel reports. The fund owned 3,304,085 shares of the biopharmaceutical company’s stock after acquiring an additional 894,486 shares during the period. MannKind accounts for about 2.7% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 8th biggest position. Parkman Healthcare Partners LLC’s holdings in MannKind were worth $20,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in MannKind during the 2nd quarter worth $55,000. Brookstone Capital Management acquired a new position in MannKind in the second quarter worth about $61,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in MannKind by 22.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after buying an additional 1,816 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in MannKind during the second quarter valued at approximately $67,000. Finally, Foundations Investment Advisors LLC bought a new position in MannKind during the 3rd quarter worth approximately $93,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MannKind

In other MannKind news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total transaction of $403,700.00. Following the sale, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. The trade was a 5.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven B. Binder sold 67,536 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the transaction, the director now directly owns 1,075,026 shares of the company’s stock, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 190,075 shares of company stock worth $1,325,587 in the last ninety days. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MNKD. Leerink Partners assumed coverage on MannKind in a report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target for the company. 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 note on Wednesday, August 28th. Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.67.

MannKind Stock Performance

MNKD stock opened at $6.71 on Wednesday. The stock’s fifty day moving average is $6.72 and its two-hundred day moving average is $5.88. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 95.86 and a beta of 1.28. MannKind Co. has a 1 year low of $3.17 and a 1 year high of $7.63.

About MannKind

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.