Healthcare of Ontario Pension Plan Trust Fund Has $1.34 Million Holdings in MannKind Corporation $MNKD

Healthcare of Ontario Pension Plan Trust Fund decreased its position in MannKind Corporation (NASDAQ:MNKD) by 22.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 547,086 shares of the biopharmaceutical company’s stock after selling 160,054 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.18% of MannKind worth $1,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNKD. EcoR1 Capital LLC purchased a new stake in shares of MannKind in the fourth quarter valued at $9,412,000. 180 Wealth Advisors LLC grew its holdings in shares of MannKind by 45.0% during the first quarter. 180 Wealth Advisors LLC now owns 4,291,703 shares of the biopharmaceutical company’s stock valued at $10,515,000 after buying an additional 1,332,759 shares in the last quarter. Apis Capital Advisors LLC acquired a new position in MannKind during the fourth quarter valued at $6,805,000. Vanguard Group Inc. lifted its stake in MannKind by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 17,880,873 shares of the biopharmaceutical company’s stock worth $101,385,000 after acquiring an additional 250,290 shares in the last quarter. Finally, Deltec Asset Management LLC lifted its stake in MannKind by 34.7% in the 4th quarter. Deltec Asset Management LLC now owns 974,700 shares of the biopharmaceutical company’s stock worth $5,527,000 after acquiring an additional 251,200 shares in the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on MNKD shares. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a research note on Thursday, July 23rd. Royal Bank Of Canada increased their price target on shares of MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a research report on Thursday, May 7th. Mizuho decreased their price target on shares of MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Wall Street Zen raised shares of MannKind from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of MannKind in a research note on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, MannKind currently has an average rating of “Moderate Buy” and an average price target of $9.34.

Insider Activity

In other MannKind news, Director Steven B. Binder sold 16,940 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $3.29, for a total transaction of $55,732.60. Following the transaction, the director directly owned 808,008 shares of the company’s stock, valued at $2,658,346.32. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.60% of the company’s stock.

MannKind Price Performance

MNKD opened at $3.91 on Friday. The company has a market capitalization of $1.21 billion, a PE ratio of -55.85 and a beta of 1.09. MannKind Corporation has a fifty-two week low of $2.23 and a fifty-two week high of $6.51. The business has a 50-day moving average of $3.90 and a 200-day moving average of $3.83.

MannKind (NASDAQ:MNKD) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $90.17 million during the quarter, compared to analyst estimates of $105.38 million. MannKind had a negative return on equity of 11.21% and a negative net margin of 6.63%.The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. On average, equities research analysts expect that MannKind Corporation will post -0.04 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).