MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder Sells 67,536 Shares

MannKind Co. (NASDAQ:MNKD) Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $6.89, for a total value of $465,323.04. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MannKind Stock Up 0.5 %

Shares of MNKD stock opened at $6.61 on Thursday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 93.86 and a beta of 1.30. MannKind Co. has a 12 month low of $3.17 and a 12 month high of $7.63. The stock has a 50-day moving average price of $6.71 and a 200 day moving average price of $5.80.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MNKD shares. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Oppenheimer boosted their price target on shares of MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of MannKind from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Leerink Partners began coverage on shares of MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MannKind currently has an average rating of “Buy” and a consensus price target of $8.67.

Institutional Investors Weigh In On MannKind

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its position in shares of MannKind by 0.4% in the 3rd quarter. State Street Corp now owns 9,597,137 shares of the biopharmaceutical company’s stock valued at $60,366,000 after acquiring an additional 40,338 shares during the period. Geode Capital Management LLC raised its holdings in MannKind by 0.4% in the third quarter. Geode Capital Management LLC now owns 6,338,928 shares of the biopharmaceutical company’s stock worth $39,880,000 after purchasing an additional 24,031 shares during the period. Millennium Management LLC raised its holdings in MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after purchasing an additional 3,107,598 shares during the period. Parkman Healthcare Partners LLC grew its holdings in shares of MannKind by 37.1% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 3,304,085 shares of the biopharmaceutical company’s stock valued at $20,783,000 after buying an additional 894,486 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of MannKind by 60.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,648,327 shares of the biopharmaceutical company’s stock valued at $16,658,000 after buying an additional 1,000,600 shares in the last quarter. 49.55% of the stock is owned by institutional investors.

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.