Short Interest in MannKind Corporation (MNKD) Expands By 15.3%
MannKind Corporation (NASDAQ:MNKD) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 30,369,247 shares, a growth of 15.3% from the October 13th total of 26,337,802 shares. Based on an average trading volume of 8,874,455 shares, the short-interest ratio is presently 3.4 days. Approximately 40.9% of the company’s shares are short sold.
In other MannKind Corporation news, Director Kent Kresa acquired 166,600 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was bought at an average price of $6.00 per share, with a total value of $999,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of MannKind Corporation by 30.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after buying an additional 25,125 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of MannKind Corporation by 51.5% in the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 30,589 shares during the last quarter. Macquarie Group Ltd. bought a new stake in MannKind Corporation in the 3rd quarter valued at about $156,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in MannKind Corporation by 20.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 588,520 shares of the biopharmaceutical company’s stock valued at $830,000 after purchasing an additional 98,520 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in MannKind Corporation in the 3rd quarter valued at about $219,000. Institutional investors own 13.96% of the company’s stock.
A number of equities research analysts recently weighed in on MNKD shares. HC Wainwright reaffirmed a “buy” rating on shares of MannKind Corporation in a report on Tuesday, October 24th. Maxim Group reaffirmed a “hold” rating on shares of MannKind Corporation in a report on Wednesday, November 1st. Zacks Investment Research raised shares of MannKind Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, ValuEngine lowered shares of MannKind Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $0.92.
MannKind Corporation (MNKD) opened at $3.24 on Thursday. MannKind Corporation has a 52 week low of $0.67 and a 52 week high of $6.96. The company has a debt-to-equity ratio of -0.43, a current ratio of 0.31 and a quick ratio of 0.28.
MannKind Corporation (NASDAQ:MNKD) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). MannKind Corporation had a negative return on equity of 24.93% and a negative net margin of 155.83%. The business had revenue of $2.04 million during the quarter, compared to the consensus estimate of $2.56 million. During the same quarter in the previous year, the business posted $1.30 earnings per share. The company’s quarterly revenue was down 98.7% compared to the same quarter last year. analysts expect that MannKind Corporation will post -1.13 earnings per share for the current year.
MannKind Corporation Company Profile
MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control.
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