Deltec Asset Management LLC Takes $3.89 Million Position in MannKind Corporation $MNKD

Deltec Asset Management LLC purchased a new position in MannKind Corporation (NASDAQ:MNKD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 723,500 shares of the biopharmaceutical company’s stock, valued at approximately $3,885,000. Deltec Asset Management LLC owned approximately 0.24% of MannKind as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. Calamos Advisors LLC purchased a new stake in shares of MannKind during the third quarter worth about $1,240,000. Los Angeles Capital Management LLC boosted its holdings in MannKind by 68.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 437,316 shares of the biopharmaceutical company’s stock worth $1,636,000 after buying an additional 177,440 shares during the last quarter. Geode Capital Management LLC boosted its holdings in MannKind by 12.3% in the 2nd quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock worth $28,494,000 after buying an additional 831,478 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in MannKind by 11.2% during the 3rd quarter. 180 Wealth Advisors LLC now owns 2,872,286 shares of the biopharmaceutical company’s stock worth $15,424,000 after buying an additional 290,276 shares in the last quarter. Finally, TSP Capital Management Group LLC raised its holdings in shares of MannKind by 7.2% during the second quarter. TSP Capital Management Group LLC now owns 2,982,575 shares of the biopharmaceutical company’s stock valued at $11,155,000 after acquiring an additional 201,225 shares during the last quarter. 49.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen raised shares of MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MannKind in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating on shares of MannKind in a research note on Thursday. Finally, Royal Bank Of Canada dropped their price objective on shares of MannKind from $8.00 to $7.50 and set an “outperform” rating for the company in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.06.

Insider Activity

In related news, insider Stuart A. Tross sold 47,006 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $6.33, for a total value of $297,547.98. Following the completion of the transaction, the insider directly owned 985,007 shares in the company, valued at approximately $6,235,094.31. This represents a 4.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sanjay R. Singh sold 18,777 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $5.03, for a total value of $94,448.31. Following the sale, the executive vice president directly owned 455,211 shares of the company’s stock, valued at approximately $2,289,711.33. This trade represents a 3.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 281,623 shares of company stock valued at $1,641,289 in the last 90 days. Company insiders own 2.70% of the company’s stock.

MannKind Stock Down 2.7%

Shares of MNKD opened at $5.85 on Friday. MannKind Corporation has a 52-week low of $3.38 and a 52-week high of $6.51. The stock has a fifty day simple moving average of $5.59 and a two-hundred day simple moving average of $4.95. The company has a market capitalization of $1.80 billion, a PE ratio of 58.50 and a beta of 0.81.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. MannKind had a net margin of 9.32% and a negative return on equity of 49.33%. The firm had revenue of $82.13 million during the quarter, compared to analyst estimates of $80.47 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. MannKind’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities analysts anticipate that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

MannKind Profile

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.