Nomura Holdings Inc. Sells 2,792,237 Shares of MannKind Co. (NASDAQ:MNKD)

Nomura Holdings Inc. lowered its holdings in shares of MannKind Co. (NASDAQ:MNKD) by 94.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,959 shares of the biopharmaceutical company’s stock after selling 2,792,237 shares during the quarter. Nomura Holdings Inc. owned 0.06% of MannKind worth $1,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in MannKind by 3,294.8% during the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 6,392 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in MannKind during the fourth quarter valued at $65,000. Beirne Wealth Consulting Services LLC bought a new position in MannKind during the fourth quarter valued at $66,000. Proficio Capital Partners LLC bought a new position in MannKind during the fourth quarter valued at $70,000. Finally, Marshall Investment Management LLC bought a new position in MannKind during the fourth quarter valued at $69,000. Institutional investors own 49.55% of the company’s stock.

MannKind Trading Down 4.2%

Shares of NASDAQ MNKD opened at $4.37 on Monday. MannKind Co. has a 12 month low of $4.34 and a 12 month high of $7.63. The company has a 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $5.74. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 62.43 and a beta of 1.14.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The business had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same period in the previous year, the business posted $0.05 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Analysts forecast that MannKind Co. will post 0.1 EPS for the current year.

Insider Buying and Selling at MannKind

In other MannKind news, EVP David Thomson sold 32,179 shares of MannKind stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total transaction of $150,597.72. Following the completion of the sale, the executive vice president now directly owns 772,427 shares in the company, valued at approximately $3,614,958.36. The trade was a 4.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven B. Binder sold 80,144 shares of MannKind stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.69, for a total transaction of $375,875.36. Following the sale, the director now owns 1,006,611 shares of the company’s stock, valued at approximately $4,721,005.59. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MNKD. Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of MannKind in a report on Thursday, February 27th. StockNews.com upgraded shares of MannKind from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Finally, Mizuho began coverage on shares of MannKind in a report on Thursday, April 10th. They issued an “outperform” rating and a $12.00 target price for the company. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $10.00.

About MannKind

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.