MannKind (NASDAQ:MNKD) Director Sells $158,547.06 in Stock

MannKind Corporation (NASDAQ:MNKD) Director Steven Binder sold 39,051 shares of MannKind stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $4.06, for a total value of $158,547.06. Following the sale, the director owned 785,867 shares of the company’s stock, valued at approximately $3,190,620.02. This represents a 4.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

MannKind Price Performance

NASDAQ:MNKD traded down $0.18 on Monday, reaching $3.93. The stock had a trading volume of 4,156,075 shares, compared to its average volume of 5,008,420. MannKind Corporation has a 12-month low of $2.23 and a 12-month high of $6.51. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -30.23 and a beta of 1.12. The firm’s fifty day moving average is $3.94 and its two-hundred day moving average is $3.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MNKD. Krilogy Financial LLC purchased a new stake in MannKind in the first quarter valued at approximately $28,000. Independent Financial Group LLC purchased a new position in MannKind during the first quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of MannKind by 108.0% in the 4th 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 last quarter. Waverly Advisors LLC acquired a new position in shares of MannKind in the 1st quarter valued at $43,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of MannKind during the 4th quarter valued at $45,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MNKD. HC Wainwright reissued a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of MannKind in a report on Wednesday, July 8th. Royal Bank Of Canada increased their price target on MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a research note on Thursday, May 7th. Wells Fargo & Company decreased their price objective on MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Mizuho lowered their price objective on MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.22.

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).