MannKind Co. (NASDAQ:MNKD – Get Free Report) insider Stuart A. Tross sold 55,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $7.34, for a total transaction of $403,700.00. Following the sale, the insider now owns 967,191 shares of the company’s stock, valued at $7,099,181.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
MannKind Stock Down 0.6 %
Shares of MNKD opened at $7.35 on Friday. The stock’s 50-day moving average price is $6.54 and its 200 day moving average price is $5.57. MannKind Co. has a 12-month low of $3.17 and a 12-month high of $7.63. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 104.93 and a beta of 1.30.
MannKind (NASDAQ:MNKD – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $72.39 million for the quarter, compared to analysts’ expectations of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. MannKind’s quarterly revenue was up 48.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. Equities research analysts expect that MannKind Co. will post 0.11 EPS for the current year.
Analysts Set New Price Targets
Check Out Our Latest Report on MannKind
Institutional Investors Weigh In On MannKind
Several institutional investors and hedge funds have recently bought and sold shares of MNKD. Meeder Asset Management Inc. bought a new position in shares of MannKind during the 2nd quarter worth about $55,000. Brookstone Capital Management bought a new position in MannKind during the second quarter worth about $61,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,816 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of MannKind in the 2nd quarter valued at approximately $67,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of MannKind in the 3rd quarter worth approximately $93,000. 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.
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