National Bank of Canada FI Buys 2,783 Shares of MannKind Co. (NASDAQ:MNKD)

National Bank of Canada FI boosted its stake in shares of MannKind Co. (NASDAQ:MNKD) by 14.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,553 shares of the biopharmaceutical company’s stock after buying an additional 2,783 shares during the period. National Bank of Canada FI’s holdings in MannKind were worth $136,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its stake in shares of MannKind by 11.0% in the third quarter. Wellington Management Group LLP now owns 865,295 shares of the biopharmaceutical company’s stock valued at $5,443,000 after acquiring an additional 85,977 shares during the period. Two Sigma Advisers LP raised its position in MannKind by 60.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock worth $16,658,000 after purchasing an additional 1,000,600 shares during the period. State Street Corp lifted its stake in MannKind by 0.4% in the third quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock worth $60,366,000 after purchasing an additional 40,338 shares during the last quarter. Quantinno Capital Management LP bought a new stake in MannKind in the third quarter worth about $85,000. Finally, Parkman Healthcare Partners LLC boosted its position in shares of MannKind by 37.1% during the third quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock valued at $20,783,000 after buying an additional 894,486 shares during the period. 49.55% of the stock is currently owned by institutional investors.

MannKind Stock Down 4.1 %

Shares of NASDAQ:MNKD opened at $6.27 on Tuesday. MannKind Co. has a 52-week low of $3.17 and a 52-week high of $7.63. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 89.57 and a beta of 1.28. The business has a 50-day moving average price of $6.77 and a 200-day moving average price of $6.00.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MNKD. Oppenheimer boosted their price objective on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Leerink Partners began coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Finally, Leerink Partnrs upgraded shares of MannKind to a “strong-buy” rating in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.67.

Insiders Place Their Bets

In related news, Director Steven B. Binder sold 67,536 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the transaction, the director now owns 1,075,026 shares of the company’s stock, valued at $7,406,929.14. This trade represents a 5.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stuart A. Tross sold 55,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,075 shares of company stock valued at $1,325,587. 3.00% of the stock is owned by insiders.

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.