MannKind Corporation $MNKD Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its position in shares of MannKind Corporation (NASDAQ:MNKD) by 48.0% in the first quarter, Holdings Channel reports. The institutional investor owned 869,254 shares of the biopharmaceutical company’s stock after buying an additional 282,068 shares during the period. First Trust Advisors LP’s holdings in MannKind were worth $2,130,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MNKD. AQR Capital Management LLC boosted its holdings in shares of MannKind by 19.8% in the first quarter. AQR Capital Management LLC now owns 55,333 shares of the biopharmaceutical company’s stock valued at $278,000 after acquiring an additional 9,160 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in MannKind by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 210,565 shares of the biopharmaceutical company’s stock worth $1,059,000 after purchasing an additional 6,079 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in MannKind by 8.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 670,872 shares of the biopharmaceutical company’s stock valued at $3,374,000 after purchasing an additional 53,202 shares during the period. JPMorgan Chase & Co. lifted its position in MannKind by 42.7% in the second quarter. JPMorgan Chase & Co. now owns 1,352,017 shares of the biopharmaceutical company’s stock valued at $5,057,000 after purchasing an additional 404,842 shares during the period. Finally, Prudential Financial Inc. lifted its position in MannKind by 84.8% in the second quarter. Prudential Financial Inc. now owns 37,381 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 17,150 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Performance

Shares of MNKD stock opened at $4.11 on Friday. The stock has a fifty day moving average price of $3.93 and a 200 day moving average price of $3.77. The stock has a market cap of $1.27 billion, a PE ratio of -31.62 and a beta of 1.12. MannKind Corporation has a 1 year low of $2.23 and a 1 year high of $6.51.

MannKind (NASDAQ:MNKD) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. The firm had revenue of $90.17 million during the quarter, compared to analyst estimates of $105.38 million. During the same period last year, the company posted $0.04 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities research analysts predict that MannKind Corporation will post -0.08 earnings per share for the current year.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company dropped their target price on MannKind from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday. Weiss Ratings reissued a “sell (d)” rating on shares of MannKind in a report on Wednesday, July 8th. HC Wainwright reissued a “buy” rating on shares of MannKind in a report on Thursday, July 23rd. Royal Bank Of Canada lifted their price target on MannKind from $3.50 to $4.75 and gave the company a “sector perform” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered MannKind from a “hold” rating to a “sell” rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.22.

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. 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).