Charles Schwab Investment Management Inc. Increases Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Charles Schwab Investment Management Inc. increased its stake in MannKind Co. (NASDAQ:MNKD) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,224,829 shares of the biopharmaceutical company’s stock after acquiring an additional 42,041 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in MannKind were worth $13,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of MannKind during the second quarter worth about $55,000. Brookstone Capital Management purchased a new stake in MannKind during the 2nd quarter worth approximately $61,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 valued at $62,000 after acquiring an additional 1,816 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of MannKind during the second quarter valued at approximately $67,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of MannKind in the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Price Performance

Shares of MNKD stock opened at $6.80 on Monday. The company has a market capitalization of $1.88 billion, a PE ratio of 97.14 and a beta of 1.28. The firm’s 50-day moving average is $6.75 and its two-hundred day moving average is $5.92. MannKind Co. has a 12 month low of $3.17 and a 12 month high of $7.63.

Wall Street Analyst Weigh In

Several research analysts recently commented on MNKD shares. Leerink Partnrs raised MannKind to a “strong-buy” rating in a research note on Monday, September 9th. Leerink Partners assumed coverage on shares of MannKind in a research report on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price for the company. StockNews.com lowered shares of MannKind from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Oppenheimer upped their price objective 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. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $8.67.

Insider Activity

In other news, insider Stuart A. Tross sold 55,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total value of $403,700.00. Following the transaction, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven B. Binder sold 67,539 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $6.76, for a total value of $456,563.64. Following the sale, the director now directly owns 1,075,026 shares of the company’s stock, valued at $7,267,175.76. The trade was a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,075 shares of company stock valued at $1,325,587. 3.00% of the stock is currently owned by company insiders.

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.