MannKind Co. (NASDAQ:MNKD) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC increased its holdings in MannKind Co. (NASDAQ:MNKD) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,730 shares of the biopharmaceutical company’s stock after acquiring an additional 3,214 shares during the quarter. AQR Capital Management LLC’s holdings in MannKind were worth $223,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. 9258 Wealth Management LLC acquired a new stake in MannKind during the first quarter valued at approximately $51,000. Meeder Asset Management Inc. acquired a new stake in MannKind during the second quarter valued at approximately $55,000. Brookstone Capital Management acquired a new stake in MannKind during the second quarter valued at approximately $61,000. Renaissance Technologies LLC bought a new position in shares of MannKind during the second quarter valued at approximately $67,000. Finally, EntryPoint Capital LLC raised its position in shares of MannKind by 60.9% during the 1st quarter. EntryPoint Capital LLC now owns 23,809 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 9,008 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MNKD shares. Leerink Partners began coverage on MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price on the stock. Oppenheimer boosted their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a report on Monday, September 9th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $8.67.

MannKind Trading Down 1.9 %

Shares of NASDAQ MNKD opened at $6.60 on Friday. The firm has a 50-day moving average of $6.06 and a two-hundred day moving average of $5.27. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 220.00 and a beta of 1.31. MannKind Co. has a twelve month low of $3.17 and a twelve month high of $6.92.

MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $72.39 million for the quarter, compared to the consensus estimate of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The firm’s quarterly revenue was up 48.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. As a group, research analysts predict that MannKind Co. will post 0.11 earnings per share for the current year.

Insider Activity

In related news, EVP Steven B. Binder sold 5,055 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was 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 approximately $6,385,654.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other MannKind news, CEO Michael Castagna sold 85,106 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the sale, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven B. Binder sold 5,055 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total value of $30,026.70. Following the sale, the executive vice president now directly owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,161 shares of company stock worth $1,229,095 in the last 90 days. Company insiders own 3.00% of the company’s stock.

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.