MannKind Corporation $MNKD Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its holdings in shares of MannKind Corporation (NASDAQ:MNKD) by 76.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,133 shares of the biopharmaceutical company’s stock after selling 183,548 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MannKind were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MNKD. Caitong International Asset Management Co. Ltd lifted its holdings in shares of MannKind by 108.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 2,927 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of MannKind during the 4th quarter worth approximately $45,000. Huntington National Bank raised its position in shares of MannKind by 420.0% during the 4th quarter. Huntington National Bank now owns 10,400 shares of the biopharmaceutical company’s stock worth $59,000 after purchasing an additional 8,400 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in MannKind in the 4th quarter valued at approximately $59,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in MannKind in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Performance

Shares of MNKD opened at $4.09 on Thursday. MannKind Corporation has a fifty-two week low of $2.23 and a fifty-two week high of $6.51. The company has a market capitalization of $1.26 billion, a PE ratio of -58.42 and a beta of 1.09. The stock has a fifty day moving average of $3.72 and a two-hundred day moving average of $3.97.

MannKind (NASDAQ:MNKD) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The business had revenue of $90.17 million for the quarter, compared to analyst estimates of $105.38 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.MannKind’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. As a group, equities research analysts forecast that MannKind Corporation will post -0.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MannKind news, Director Steven B. Binder sold 16,940 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total value of $55,732.60. Following the sale, the director directly owned 808,008 shares of the company’s stock, valued at approximately $2,658,346.32. This trade represents a 2.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research downgraded MannKind from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Wells Fargo & Company set a $11.00 price objective on MannKind and gave the company an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research note on Wednesday, July 8th. Wall Street Zen upgraded MannKind from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Royal Bank Of Canada boosted their target price on shares of MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $8.97.

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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).