MannKind Co. (NASDAQ:MNKD) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its stake in MannKind Co. (NASDAQ:MNKD) by 96.7% in the 3rd quarter, Holdings Channel reports. The firm owned 15,342 shares of the biopharmaceutical company’s stock after selling 455,700 shares during the quarter. GSA Capital Partners LLP’s holdings in MannKind were worth $97,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MannKind by 22.3% in 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 buying an additional 1,816 shares in the last quarter. AQR Capital Management LLC grew its position in MannKind by 8.1% in the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 3,214 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in MannKind by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 3,374 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of MannKind by 6.0% during the second quarter. Commonwealth Equity Services LLC now owns 68,361 shares of the biopharmaceutical company’s stock worth $357,000 after purchasing an additional 3,861 shares in the last quarter. Finally, Hunter Associates Investment Management LLC boosted its stake in shares of MannKind by 8.5% in the third quarter. Hunter Associates Investment Management LLC now owns 61,700 shares of the biopharmaceutical company’s stock valued at $387,000 after purchasing an additional 4,830 shares during the period. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Stock Down 1.8 %

NASDAQ:MNKD opened at $6.72 on Tuesday. The company has a market cap of $1.85 billion, a PE ratio of 96.00 and a beta of 1.30. The business’s 50 day moving average is $6.71 and its two-hundred day moving average is $5.78. MannKind Co. has a 52 week low of $3.17 and a 52 week high of $7.63.

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 80,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 1,047,191 shares of the company’s stock, valued at approximately $6,628,719.03. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven B. Binder sold 67,536 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. This trade represents a 5.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,236 shares of company stock valued at $2,554,681 over the last 90 days. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

MNKD has been the topic of several analyst reports. Leerink Partners assumed 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. Oppenheimer boosted their price target on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Leerink Partnrs raised MannKind to a “strong-buy” rating in a report on Monday, September 9th. Finally, StockNews.com downgraded MannKind from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MannKind has an average rating of “Buy” and an average target price of $8.67.

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.