TSP Capital Management Group LLC Increases Stock Holdings in MannKind Corporation $MNKD

TSP Capital Management Group LLC lifted its stake in shares of MannKind Corporation (NASDAQ:MNKD) by 12.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,343,975 shares of the biopharmaceutical company’s stock after buying an additional 380,800 shares during the quarter. MannKind comprises about 2.0% of TSP Capital Management Group LLC’s portfolio, making the stock its 23rd largest holding. TSP Capital Management Group LLC’s holdings in MannKind were worth $8,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Krilogy Financial LLC acquired a new stake in shares of MannKind in the 1st quarter worth $28,000. Caitong International Asset Management Co. Ltd lifted its position in 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 during the period. International Assets Investment Management LLC purchased a new stake in MannKind in the 4th quarter valued at approximately $45,000. Discipline Wealth Solutions LLC acquired a new position in MannKind during the 1st quarter worth approximately $45,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of MannKind in the 4th quarter valued at approximately $59,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MannKind news, Director Steven B. Binder sold 16,940 shares of MannKind stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $3.29, for a total value of $55,732.60. Following the transaction, the director owned 808,008 shares in the company, valued at $2,658,346.32. This trade represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on MNKD shares. HC Wainwright increased their price objective on MannKind from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Mizuho lowered their price target on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Zacks Research upgraded shares of MannKind from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Wall Street Zen cut shares of MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Wedbush dropped their target price on shares of MannKind from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MannKind presently has a consensus rating of “Moderate Buy” and an average price target of $8.97.

MannKind Trading Down 4.9%

MannKind stock opened at $4.05 on Thursday. The stock has a market cap of $1.25 billion, a PE ratio of -57.85 and a beta of 1.09. The stock has a 50-day moving average price of $3.45 and a 200 day moving average price of $4.09. MannKind Corporation has a 52 week low of $2.23 and a 52 week high of $6.51.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results 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 firm 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. On average, equities analysts predict that MannKind Corporation will post -0.06 EPS for the current year.

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).