MannKind (NASDAQ:MNKD) Director Steven Binder Sells 33,558 Shares of Stock

MannKind Corporation (NASDAQ:MNKD) Director Steven Binder sold 33,558 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $3.81, for a total transaction of $127,855.98. Following the sale, the director directly owned 752,309 shares of the company’s stock, valued at approximately $2,866,297.29. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

MannKind Stock Performance

MannKind stock remained flat at $3.75 during midday trading on Monday. 3,129,179 shares of the company traded hands, compared to its average volume of 3,019,188. MannKind Corporation has a 12-month low of $2.23 and a 12-month high of $6.51. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -28.85 and a beta of 1.10. The company has a 50-day simple moving average of $4.00 and a 200 day simple moving average of $3.45.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $109.37 million for the quarter, compared to analyst estimates of $108.08 million. MannKind had a negative net margin of 11.08% and a negative return on equity of 11.21%. The firm’s revenue was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities research analysts anticipate that MannKind Corporation will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research report on Wednesday, July 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of MannKind in a report on Friday. Wall Street Zen cut MannKind from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. HC Wainwright restated a “buy” rating on shares of MannKind in a research report on Thursday, July 23rd. Finally, Zacks Research cut MannKind from a “hold” rating to a “strong sell” rating in a report on Thursday, September 3rd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.34.

Institutional Trading of MannKind

A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. increased its stake in MannKind by 53.6% in the 1st quarter. Sei Investments Co. now owns 726,396 shares of the biopharmaceutical company’s stock valued at $1,780,000 after buying an additional 253,537 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in shares of MannKind by 11.9% in the second 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 acquiring an additional 700,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MannKind by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,953,295 shares of the biopharmaceutical company’s stock valued at $12,134,000 after purchasing an additional 509,692 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in MannKind by 45.0% in 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 purchasing an additional 1,332,759 shares in the last quarter. Finally, EcoR1 Capital LLC bought a new position in MannKind in the fourth quarter valued at approximately $9,412,000. Institutional investors own 49.55% of the company’s stock.

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).