Two Sigma Advisers LP Boosts Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Two Sigma Advisers LP increased its position in shares of MannKind Co. (NASDAQ:MNKD) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,092,627 shares of the biopharmaceutical company’s stock after buying an additional 444,300 shares during the period. Two Sigma Advisers LP owned 1.12% of MannKind worth $19,886,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its position in shares of MannKind by 3,294.8% in the fourth quarter. Jones Financial Companies Lllp now owns 6,586 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 6,392 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in shares of MannKind in the 4th quarter valued at about $65,000. Beirne Wealth Consulting Services LLC acquired a new position in MannKind in the 4th quarter worth about $66,000. Marshall Investment Management LLC purchased a new position in MannKind during the fourth quarter worth approximately $69,000. Finally, Proficio Capital Partners LLC acquired a new stake in MannKind in the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Activity at MannKind

In other news, Director Steven B. Binder sold 12,078 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $4.40, for a total transaction of $53,143.20. Following the transaction, the director now directly owns 989,343 shares in the company, valued at $4,353,109.20. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Thomson sold 32,179 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $4.68, for a total value of $150,597.72. Following the completion of the sale, the executive vice president now directly owns 772,427 shares of the company’s stock, valued at approximately $3,614,958.36. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,746 shares of company stock valued at $589,958. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MNKD shares. StockNews.com raised MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Mizuho assumed coverage on shares of MannKind in a research report on Thursday, April 10th. They set an “outperform” rating and a $12.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of MannKind in a research report on Thursday, February 27th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $10.00.

MannKind Stock Performance

NASDAQ MNKD opened at $4.17 on Thursday. The business has a fifty day moving average price of $4.79 and a 200 day moving average price of $5.70. The company has a market cap of $1.27 billion, a P/E ratio of 59.57 and a beta of 1.14. MannKind Co. has a one year low of $4.14 and a one year high of $7.63.

MannKind (NASDAQ:MNKD) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $75.86 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. As a group, sell-side analysts predict that MannKind Co. will post 0.1 EPS for the current fiscal year.

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.