SBI Securities Co. Ltd. Has $248,000 Stock Position in MannKind Corporation $MNKD

SBI Securities Co. Ltd. lifted its holdings in shares of MannKind Corporation (NASDAQ:MNKD) by 5,387.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 66,394 shares of the biopharmaceutical company’s stock after purchasing an additional 65,184 shares during the period. SBI Securities Co. Ltd.’s holdings in MannKind were worth $248,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MNKD. Principal Financial Group Inc. boosted its stake in MannKind by 8.6% during the 1st quarter. Principal Financial Group Inc. now owns 200,445 shares of the biopharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 15,870 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of MannKind by 62.8% in the first quarter. Victory Capital Management Inc. now owns 357,200 shares of the biopharmaceutical company’s stock valued at $1,797,000 after purchasing an additional 137,833 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of MannKind by 17.5% during the first quarter. Allianz Asset Management GmbH now owns 85,300 shares of the biopharmaceutical company’s stock valued at $429,000 after buying an additional 12,700 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in MannKind by 136.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 94,068 shares of the biopharmaceutical company’s stock worth $473,000 after buying an additional 54,286 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in MannKind during the first quarter worth $123,000. Institutional investors own 49.55% of the company’s stock.

Wall Street Analyst Weigh In

MNKD has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their price objective on MannKind from $8.00 to $7.50 and set an “outperform” rating on the stock in a research note on Tuesday, November 11th. HC Wainwright reissued a “buy” rating on shares of MannKind in a research report on Monday, November 10th. Wells Fargo & Company reduced their price objective on shares of MannKind from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MannKind in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.21.

Insider Buying and Selling at MannKind

In other news, EVP Sanjay R. Singh sold 18,777 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $5.03, for a total transaction of $94,448.31. Following the transaction, the executive vice president owned 455,211 shares of the company’s stock, valued at $2,289,711.33. This represents a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart A. Tross sold 47,000 shares of MannKind stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $5.34, for a total value of $250,980.00. Following the completion of the sale, the insider directly owned 1,032,013 shares of the company’s stock, valued at approximately $5,510,949.42. This trade represents a 4.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.70% of the stock is currently owned by corporate insiders.

MannKind Stock Performance

NASDAQ MNKD opened at $5.06 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of 46.00 and a beta of 1.11. MannKind Corporation has a 52-week low of $3.38 and a 52-week high of $7.07. The company has a 50-day simple moving average of $5.43 and a 200 day simple moving average of $4.58.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. MannKind had a net margin of 10.87% and a negative return on equity of 32.60%. The firm had revenue of $82.13 million during the quarter, compared to the consensus estimate of $80.47 million. During the same period in the prior year, the firm earned $0.04 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts forecast that MannKind Corporation will post 0.1 EPS 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.