Simon Quick Advisors LLC Acquires Shares of 48,216 MannKind Corporation $MNKD

Simon Quick Advisors LLC acquired a new stake in MannKind Corporation (NASDAQ:MNKD) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 48,216 shares of the biopharmaceutical company’s stock, valued at approximately $180,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in MannKind by 7.9% in the first quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company’s stock valued at $87,131,000 after purchasing an additional 1,263,622 shares during the last quarter. Millennium Management LLC lifted its position in MannKind by 68.9% in the first quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock valued at $29,288,000 after purchasing an additional 2,375,198 shares during the last quarter. Nuveen LLC bought a new stake in MannKind in the first quarter valued at approximately $17,011,000. 180 Wealth Advisors LLC lifted its position in MannKind by 17.6% in the second quarter. 180 Wealth Advisors LLC now owns 2,582,010 shares of the biopharmaceutical company’s stock valued at $9,657,000 after purchasing an additional 387,306 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in MannKind by 5.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,029,319 shares of the biopharmaceutical company’s stock valued at $10,207,000 after purchasing an additional 110,945 shares during the last quarter. Institutional investors own 49.55% of the company’s stock.

Insider Activity at MannKind

In other news, insider Stuart A. Tross sold 47,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $5.34, for a total value of $250,980.00. Following the sale, the insider directly owned 1,032,013 shares of the company’s stock, valued at approximately $5,510,949.42. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MNKD. Wells Fargo & Company began coverage on MannKind in a research note on Monday, October 20th. They set an “overweight” rating and a $10.00 target price on the stock. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of MannKind in a research note on Monday, October 13th. Oppenheimer boosted their target price on MannKind from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Leerink Partners began coverage on MannKind in a research note on Friday, October 10th. They set an “outperform” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.86.

MannKind Price Performance

Shares of MNKD stock opened at $5.48 on Wednesday. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 49.82 and a beta of 1.08. The business’s fifty day moving average is $5.37 and its 200 day moving average is $4.54. MannKind Corporation has a twelve month low of $3.38 and a twelve month high of $7.63.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $76.53 million for the quarter, compared to analysts’ expectations of $77.82 million. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities research analysts expect that MannKind Corporation will post 0.1 earnings per share for the current fiscal year.

MannKind Company 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.