MannKind Corporation $MNKD Stake Raised by TSP Capital Management Group LLC

TSP Capital Management Group LLC increased its holdings in shares of MannKind Corporation (NASDAQ:MNKD) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,180,525 shares of the biopharmaceutical company’s stock after buying an additional 207,850 shares during the period. MannKind accounts for about 4.2% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 9th biggest holding. TSP Capital Management Group LLC owned approximately 1.30% of MannKind worth $16,304,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Wellington Management Group LLP boosted its stake in MannKind by 138.9% in the second quarter. Wellington Management Group LLP now owns 7,844,807 shares of the biopharmaceutical company’s stock valued at $33,419,000 after acquiring an additional 4,561,628 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake in shares of MannKind by 11.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 6,600,000 shares of the biopharmaceutical company’s stock valued at $28,116,000 after purchasing an additional 700,000 shares during the period. Braidwell LP acquired a new position in shares of MannKind in the 2nd quarter valued at $14,733,000. Dimensional Fund Advisors LP boosted its position in shares of MannKind by 11.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock worth $12,134,000 after purchasing an additional 509,692 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of MannKind by 45.0% in the 1st quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock worth $10,515,000 after purchasing an additional 1,332,759 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on MNKD shares. Truist Financial decreased their price objective on MannKind from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. Zacks Research upgraded MannKind from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Wall Street Zen lowered MannKind from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 target price on shares of MannKind in a report on Friday, September 11th. Finally, HC Wainwright restated a “buy” rating on shares of MannKind in a report on Thursday, July 23rd. Seven investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.84.

Insider Transactions at MannKind

In related news, Director Steven Binder sold 39,051 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $3.29, for a total transaction of $128,477.79. Following the completion of the sale, the director directly owned 713,258 shares of the company’s stock, valued at approximately $2,346,618.82. This represents a 5.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 111,660 shares of company stock worth $414,881. 2.60% of the stock is currently owned by corporate insiders.

MannKind Stock Performance

Shares of NASDAQ MNKD opened at $3.19 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of -24.54 and a beta of 1.09. The firm has a 50 day moving average price of $3.75 and a 200 day moving average price of $3.57. MannKind Corporation has a 52-week low of $2.23 and a 52-week high of $6.51.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $109.37 million for the quarter, compared to analyst estimates of $108.08 million. During the same period in the previous year, the business posted $0.05 EPS. The business’s quarterly revenue was up 43.0% compared to the same quarter last year. Analysts predict that MannKind Corporation will post -0.20 earnings per share for the current fiscal year.

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. 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).