MannKind Co. (NASDAQ:MNKD) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP decreased its holdings in MannKind Co. (NASDAQ:MNKD) by 47.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,139 shares of the biopharmaceutical company’s stock after selling 58,829 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in MannKind were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MNKD. Principal Financial Group Inc. boosted its position in MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock valued at $1,060,000 after buying an additional 134,937 shares during the period. International Assets Investment Management LLC boosted its holdings in MannKind by 511.6% in the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock valued at $558,000 after purchasing an additional 74,189 shares during the period. SG Americas Securities LLC purchased a new position in MannKind in the third quarter valued at $546,000. Bank of New York Mellon Corp grew its stake in MannKind by 14.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after purchasing an additional 115,390 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in MannKind by 15.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company’s stock worth $11,859,000 after purchasing an additional 251,587 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Activity at MannKind

In other news, insider Stuart A. Tross sold 80,000 shares of MannKind stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total value of $506,400.00. Following the transaction, the insider now directly owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. The trade was a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Castagna sold 85,106 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.30, for a total transaction of $536,167.80. Following the sale, the chief executive officer now owns 2,294,836 shares of the company’s stock, valued at approximately $14,457,466.80. This represents a 3.58 % 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 ninety days. Insiders own 3.00% of the company’s stock.

MannKind Trading Down 2.1 %

Shares of NASDAQ:MNKD opened at $6.58 on Wednesday. The firm has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $5.78. The company has a market capitalization of $1.81 billion, a PE ratio of 94.00 and a beta of 1.30. MannKind Co. has a twelve month low of $3.17 and a twelve month high of $7.63.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Oppenheimer lifted their price objective on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Leerink Partnrs raised shares of MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Leerink Partners initiated coverage on shares of MannKind in a research report on Monday, September 9th. They set an “outperform” rating and a $8.00 price objective for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target 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.