4,225,000 Shares in MannKind Corporation $MNKD Bought by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. acquired a new position in MannKind Corporation (NASDAQ:MNKD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,225,000 shares of the biopharmaceutical company’s stock, valued at approximately $23,956,000. MannKind makes up 0.6% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 29th largest holding. Frazier Life Sciences Management L.P. owned 1.38% of MannKind as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of MannKind in the fourth quarter worth $4,009,000. Barclays PLC raised its position in shares of MannKind by 21.2% in the fourth quarter. Barclays PLC now owns 1,025,437 shares of the biopharmaceutical company’s stock worth $5,814,000 after buying an additional 179,381 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of MannKind in the fourth quarter worth $1,499,000. Walleye Capital LLC purchased a new stake in shares of MannKind in the fourth quarter worth $687,000. Finally, Stifel Financial Corp raised its position in shares of MannKind by 25.5% in the fourth quarter. Stifel Financial Corp now owns 54,740 shares of the biopharmaceutical company’s stock worth $310,000 after buying an additional 11,115 shares in the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

Insider Activity

In other news, Director Steven B. Binder sold 16,940 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total transaction of $55,732.60. Following the transaction, the director directly owned 808,008 shares of the company’s stock, valued at approximately $2,658,346.32. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

MNKD has been the topic of a number of recent analyst reports. HC Wainwright increased their price objective on MannKind from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Wells Fargo & Company set a $11.00 target price on MannKind and gave the company an “overweight” rating in a research note on Monday, June 1st. Wall Street Zen raised MannKind from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings cut MannKind from a “hold (c)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.97.

MannKind Stock Down 2.4%

MNKD opened at $3.66 on Friday. The stock has a market cap of $1.13 billion, a PE ratio of -52.28 and a beta of 1.13. MannKind Corporation has a 52 week low of $2.23 and a 52 week high of $6.51. The business’s fifty day simple moving average is $3.10 and its 200 day simple moving average is $4.24.

MannKind (NASDAQ:MNKD) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $90.17 million during the quarter, compared to the consensus estimate of $105.38 million. MannKind had a negative net margin of 6.63% and a negative return on equity of 11.21%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. As a group, equities analysts anticipate that MannKind Corporation will post -0.06 earnings per share for the current year.

MannKind 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. The company's product pipeline also includes Tyvaso DPI (Treprostinil), an inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; MNKD-101, a nebulized formulation of clofazimine, for the treatment of severe chronic and recurrent pulmonary infections, including nontuberculous mycobacterial lung disease; MNKD-201, a dry-powder formulation of nintedanib, for the treatment of idiopathic pulmonary fibrosis (IPF).