MannKind Co. (NASDAQ:MNKD) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC reduced its position in shares of MannKind Co. (NASDAQ:MNKD) by 16.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 164,595 shares of the biopharmaceutical company’s stock after selling 32,708 shares during the quarter. ClariVest Asset Management LLC’s holdings in MannKind were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. 9258 Wealth Management LLC bought a new stake in MannKind during the first quarter valued at $51,000. Brookstone Capital Management acquired a new stake in MannKind during the second quarter worth about $61,000. EntryPoint Capital LLC raised its stake in MannKind by 60.9% during the first quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 9,008 shares during the period. Mission Wealth Management LP lifted its holdings in MannKind by 18.2% in the first quarter. Mission Wealth Management LP now owns 26,650 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 4,100 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in MannKind by 23.9% in the fourth quarter. Victory Capital Management Inc. now owns 35,064 shares of the biopharmaceutical company’s stock valued at $128,000 after acquiring an additional 6,753 shares during the period. 49.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Steven B. Binder sold 5,055 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.94, for a total transaction of $30,026.70. Following the completion of the transaction, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other MannKind news, EVP Steven B. Binder sold 5,055 shares of MannKind stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $5.94, for a total value of $30,026.70. Following the transaction, the executive vice president now owns 1,075,026 shares in the company, valued at $6,385,654.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Castagna sold 85,106 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total value of $536,167.80. Following the sale, the chief executive officer now directly owns 2,294,836 shares in the company, valued at $14,457,466.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,997 shares of company stock worth $1,245,912. 3.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MNKD has been the topic of several recent research reports. Leerink Partnrs raised MannKind to a “strong-buy” rating in a report on Monday. Rodman & Renshaw initiated coverage on shares of MannKind in a report on Thursday, June 13th. They set a “buy” rating and a $8.00 price target for the company. Leerink Partners assumed coverage on shares of MannKind in a research report on Monday. They set an “outperform” rating and a $8.00 price target for the company. Finally, Oppenheimer lifted their price objective 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 investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $8.67.

MannKind Stock Up 1.8 %

MNKD stock opened at $6.13 on Thursday. The company has a market capitalization of $1.69 billion, a P/E ratio of 204.40 and a beta of 1.32. The company has a 50-day simple moving average of $5.60 and a 200 day simple moving average of $4.93. MannKind Co. has a fifty-two week low of $3.17 and a fifty-two week high of $6.44.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. MannKind had a net margin of 4.73% and a negative return on equity of 11.97%. The business had revenue of $72.39 million during the quarter, compared to analysts’ expectations of $64.81 million. During the same period last year, the firm posted ($0.02) earnings per share. The business’s revenue was up 48.9% on a year-over-year basis. Equities analysts anticipate that MannKind Co. will post 0.11 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.