MannKind Co. (NASDAQ:MNKD) Shares Sold by XTX Topco Ltd

XTX Topco Ltd trimmed its stake in shares of MannKind Co. (NASDAQ:MNKD) by 13.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,137 shares of the biopharmaceutical company’s stock after selling 3,527 shares during the quarter. XTX Topco Ltd’s holdings in MannKind were worth $116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of MannKind during the first quarter worth $450,000. Parkman Healthcare Partners LLC boosted its holdings in shares of MannKind by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 2,498,624 shares of the biopharmaceutical company’s stock valued at $9,095,000 after acquiring an additional 429,677 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MannKind by 14.4% during the second quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after acquiring an additional 115,390 shares during the period. 180 Wealth Advisors LLC raised its holdings in MannKind by 12.6% during the first quarter. 180 Wealth Advisors LLC now owns 1,942,210 shares of the biopharmaceutical company’s stock worth $8,798,000 after purchasing an additional 216,880 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in MannKind by 87.2% in the fourth quarter. Virtu Financial LLC now owns 96,066 shares of the biopharmaceutical company’s stock valued at $350,000 after purchasing an additional 44,737 shares during the period. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

MannKind Trading Down 0.5 %

Shares of NASDAQ MNKD opened at $6.26 on Wednesday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 208.67 and a beta of 1.32. The company’s 50-day moving average price is $5.83 and its 200 day moving average price is $5.11. MannKind Co. has a 52 week low of $3.17 and a 52 week high of $6.92.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $72.39 million for the quarter, compared to analyst estimates of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. MannKind’s 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 expect that MannKind Co. will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Stuart A. Tross sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.33, for a total transaction of $506,400.00. Following the transaction, the insider now owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Castagna sold 85,106 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.30, for a total transaction of $536,167.80. Following the completion of the transaction, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at $14,457,466.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stuart A. Tross sold 80,000 shares of MannKind stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total value of $506,400.00. Following the completion of the transaction, the insider now owns 1,047,191 shares in the company, valued at approximately $6,628,719.03. The disclosure for this sale can be found here. Insiders have sold 197,997 shares of company stock valued at $1,245,912 in the last ninety days. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Rodman & Renshaw started coverage on MannKind in a research report on Thursday, June 13th. They set a “buy” rating and a $8.00 target price on the stock. Leerink Partnrs raised MannKind to a “strong-buy” rating in a report on Monday, September 9th. Oppenheimer raised their target price on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Leerink Partners started coverage on shares of MannKind in a research note on Monday, September 9th. They set an “outperform” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.