MannKind Co. (NASDAQ:MNKD) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 34,425,319 shares, an increase of 4.4% from the January 12th total of 32,969,296 shares. Based on an average daily volume of 8,223,627 shares, the short-interest ratio is currently 4.2 days. Approximately 34.5% of the company’s shares are short sold.

In related news, VP Stuart A. Tross acquired 39,840 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was bought at an average price of $2.52 per share, with a total value of $100,396.80. Following the purchase, the vice president now directly owns 59,840 shares in the company, valued at approximately $150,796.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in MannKind by 30.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 108,380 shares of the biopharmaceutical company’s stock worth $236,000 after purchasing an additional 25,125 shares in the last quarter. Wells Fargo & Company MN increased its position in MannKind by 51.5% during the 3rd quarter. Wells Fargo & Company MN now owns 89,951 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 30,589 shares in the last quarter. Geode Capital Management LLC increased its position in MannKind by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 551,568 shares of the biopharmaceutical company’s stock worth $1,279,000 after purchasing an additional 70,542 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in MannKind by 60.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 188,428 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 71,012 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in MannKind during the 3rd quarter worth approximately $156,000. 12.33% of the stock is owned by hedge funds and other institutional investors.

MNKD has been the subject of a number of research analyst reports. S&P Equity Research dropped their price objective on shares of MannKind from $3.49 to $2.77 in a research note on Thursday, January 25th. HC Wainwright reaffirmed a “buy” rating on shares of MannKind in a research note on Tuesday, October 24th. Maxim Group reaffirmed a “hold” rating on shares of MannKind in a research note on Tuesday, January 30th. BidaskClub raised shares of MannKind from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Finally, Zacks Investment Research raised shares of MannKind from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $1.89.

Shares of MannKind (NASDAQ MNKD) opened at $3.02 on Wednesday. The stock has a market cap of $346.92, a P/E ratio of -11.19 and a beta of 3.18. MannKind has a 1 year low of $0.67 and a 1 year high of $6.96. The company has a current ratio of 0.31, a quick ratio of 0.28 and a debt-to-equity ratio of -0.43.

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MannKind 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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