US Bancorp DE Invests $407,000 in MannKind Co. (NASDAQ:MNKD)

US Bancorp DE bought a new position in shares of MannKind Co. (NASDAQ:MNKD) in the third quarter, HoldingsChannel reports. The institutional investor bought 64,775 shares of the biopharmaceutical company’s stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MNKD. Millennium Management LLC increased its holdings in MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after purchasing an additional 3,107,598 shares during the last quarter. TSP Capital Management Group LLC increased its holdings in MannKind by 196.0% in the second quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock valued at $12,486,000 after purchasing an additional 1,583,800 shares during the last quarter. 180 Wealth Advisors LLC increased its holdings in MannKind by 4.7% in the second quarter. 180 Wealth Advisors LLC now owns 2,034,134 shares of the biopharmaceutical company’s stock valued at $11,411,000 after purchasing an additional 91,924 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in MannKind by 14.4% in the second quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock valued at $4,778,000 after purchasing an additional 115,390 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in MannKind by 5.2% in the second quarter. Rhumbline Advisers now owns 397,194 shares of the biopharmaceutical company’s stock valued at $2,073,000 after purchasing an additional 19,675 shares during the last quarter. Institutional investors own 49.55% of the company’s stock.

MannKind Stock Down 1.7 %

NASDAQ MNKD opened at $7.22 on Tuesday. MannKind Co. has a twelve month low of $3.17 and a twelve month high of $7.63. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 103.14 and a beta of 1.30. The business’s fifty day moving average is $6.56 and its 200 day moving average is $5.60.

Insider Buying and Selling

In other news, EVP Steven B. Binder sold 5,055 shares of MannKind stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $5.94, for a total value of $30,026.70. Following the completion of the transaction, the executive vice president now directly owns 1,075,026 shares of the company’s stock, valued at approximately $6,385,654.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other MannKind news, EVP Steven B. Binder sold 5,055 shares of MannKind 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 in the company, valued at approximately $6,385,654.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Castagna sold 85,106 shares of MannKind stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $6.30, for a total value of $536,167.80. Following the transaction, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,161 shares of company stock valued at $1,632,795 in the last three months. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

MNKD has been the subject of a number of research analyst reports. Leerink Partnrs raised MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners initiated coverage on MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price for the company. Oppenheimer boosted their target price on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.67.

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.