MannKind Corporation $MNKD Shares Purchased by 180 Wealth Advisors LLC

180 Wealth Advisors LLC raised its position in MannKind Corporation (NASDAQ:MNKD) by 45.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,291,703 shares of the biopharmaceutical company’s stock after acquiring an additional 1,332,759 shares during the quarter. MannKind makes up about 1.2% of 180 Wealth Advisors LLC’s holdings, making the stock its 15th largest holding. 180 Wealth Advisors LLC’s holdings in MannKind were worth $10,515,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Krilogy Financial LLC purchased a new stake in shares of MannKind in the first quarter valued at about $28,000. Caitong International Asset Management Co. Ltd lifted its position in MannKind by 108.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 2,927 shares during the period. International Assets Investment Management LLC acquired a new stake in MannKind in the fourth quarter valued at about $45,000. Discipline Wealth Solutions LLC purchased a new stake in MannKind in the 1st quarter valued at approximately $45,000. Finally, Burkett Financial Services LLC acquired a new position in MannKind during the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Stock Performance

MNKD stock traded down $0.05 during midday trading on Friday, hitting $4.09. 4,244,655 shares of the stock were exchanged, compared to its average volume of 4,965,138. The stock’s 50-day moving average price is $3.67 and its 200-day moving average price is $4.02. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -58.42 and a beta of 1.09. MannKind Corporation has a fifty-two week low of $2.23 and a fifty-two week high of $6.51.

MannKind (NASDAQ:MNKD) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.05) earnings per share 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 analysts’ expectations of $105.38 million. MannKind had a negative net margin of 6.63% and a negative return on equity of 11.21%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. Research analysts anticipate that MannKind Corporation will post -0.06 EPS for the current year.

Insider Activity at MannKind

In other news, Director Steven B. Binder sold 16,940 shares of MannKind stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $3.29, for a total value of $55,732.60. Following the completion of the sale, the director owned 808,008 shares of the company’s stock, valued at $2,658,346.32. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MNKD shares. Mizuho cut their price objective on MannKind from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MannKind in a research note on Wednesday. HC Wainwright increased their price target on shares of MannKind from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of MannKind from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of MannKind from $3.50 to $4.75 and gave the stock a “sector perform” rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.97.

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).