Scopia Capital Management LP acquired a new stake in MannKind Co. (NASDAQ:MNKD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 933,612 shares of the biopharmaceutical company’s stock, valued at approximately $1,074,000. MannKind comprises approximately 0.0% of Scopia Capital Management LP’s investment portfolio, making the stock its 21st largest holding. Scopia Capital Management LP owned about 0.49% of MannKind at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. acquired a new stake in shares of MannKind in the second quarter valued at approximately $452,000. Chicago Equity Partners LLC acquired a new stake in shares of MannKind in the second quarter valued at approximately $259,000. BNP Paribas Arbitrage SA raised its holdings in shares of MannKind by 3,449,500.0% in the first quarter. BNP Paribas Arbitrage SA now owns 34,496 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 34,495 shares during the last quarter. Raging Capital Management LLC raised its holdings in shares of MannKind by 3.1% in the second quarter. Raging Capital Management LLC now owns 3,048,257 shares of the biopharmaceutical company’s stock valued at $3,505,000 after purchasing an additional 92,550 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of MannKind by 32.0% in the second quarter. Commonwealth Equity Services LLC now owns 60,238 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 14,590 shares during the last quarter. Institutional investors own 26.63% of the company’s stock.
MNKD has been the topic of a number of recent research reports. BidaskClub upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. ValuEngine upgraded shares of MannKind from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $3.00.
MNKD traded down $0.01 during trading on Friday, reaching $1.31. 1,274,158 shares of the stock were exchanged, compared to its average volume of 2,567,609. The stock has a market cap of $253.14 million, a P/E ratio of -2.22 and a beta of 2.37. MannKind Co. has a twelve month low of $0.94 and a twelve month high of $2.34. The stock’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $1.37.
MannKind (NASDAQ:MNKD) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The firm had revenue of $15.00 million for the quarter, compared to analyst estimates of $14.83 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. On average, equities analysts anticipate that MannKind Co. will post -0.3 EPS for the current year.
MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for diabetes and pulmonary arterial hypertension patients. It offers Afrezza, a dry powder formulation of human insulin that controls high blood sugar in adults with type 1 and type 2 diabetes in the United States.
Featured Article: How to start trading in the forex market?
Want to see what other hedge funds are holding MNKD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MannKind Co. (NASDAQ:MNKD).
Receive News & Ratings for MannKind Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MannKind and related companies with MarketBeat.com's FREE daily email newsletter.