SG Americas Securities LLC Takes Position in MannKind Co. (NASDAQ:MNKD)

SG Americas Securities LLC bought a new stake in MannKind Co. (NASDAQ:MNKD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 86,775 shares of the biopharmaceutical company’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 9258 Wealth Management LLC acquired a new position in shares of MannKind during the 1st quarter worth about $51,000. Meeder Asset Management Inc. acquired a new position in MannKind during the second quarter worth approximately $55,000. Brookstone Capital Management bought a new stake in MannKind in the second quarter valued at approximately $61,000. Renaissance Technologies LLC acquired a new stake in shares of MannKind in the second quarter valued at approximately $67,000. Finally, EntryPoint Capital LLC boosted its stake 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 acquiring an additional 9,008 shares during the period. 49.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Leerink Partnrs raised MannKind to a “strong-buy” rating in a report on Monday, September 9th. 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 target price for the company. Finally, Oppenheimer upped their price target 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. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MannKind currently has an average rating of “Buy” and a consensus price target of $8.67.

MannKind Stock Performance

MNKD stock opened at $6.61 on Wednesday. MannKind Co. has a 52 week low of $3.17 and a 52 week high of $6.92. The company has a market capitalization of $1.80 billion, a PE ratio of 220.33 and a beta of 1.31. The company’s 50-day simple moving average is $6.00 and its 200 day simple moving average is $5.25.

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

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 80,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.33, for a total transaction of $506,400.00. Following the completion of the sale, the insider now directly owns 1,047,191 shares in the company, valued at approximately $6,628,719.03. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Stuart A. Tross sold 80,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at $6,628,719.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Castagna sold 85,106 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the sale, the chief executive officer now owns 2,294,836 shares in the company, valued at $14,457,466.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.

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.