Calamos Advisors LLC Has $1.19 Million Stock Holdings in MannKind Co. (NASDAQ:MNKD)

Calamos Advisors LLC cut its holdings in MannKind Co. (NASDAQ:MNKD) by 41.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 184,661 shares of the biopharmaceutical company’s stock after selling 131,021 shares during the quarter. Calamos Advisors LLC’s holdings in MannKind were worth $1,187,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MNKD. Dimensional Fund Advisors LP acquired a new stake in shares of MannKind in the 2nd quarter valued at approximately $1,524,000. Renaissance Technologies LLC acquired a new stake in MannKind in the second quarter valued at approximately $67,000. AQR Capital Management LLC boosted its position in MannKind by 8.1% in the second quarter. AQR Capital Management LLC now owns 42,730 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 3,214 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in MannKind by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 101,435 shares of the biopharmaceutical company’s stock valued at $529,000 after buying an additional 3,374 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in MannKind in the second quarter valued at approximately $142,000. 49.55% of the stock is owned by institutional investors and hedge funds.

MannKind Price Performance

MannKind stock opened at $5.64 on Thursday. The stock’s 50 day moving average is $6.33 and its 200 day moving average is $6.28. The firm has a market cap of $1.56 billion, a P/E ratio of 80.57 and a beta of 1.28. MannKind Co. has a one year low of $3.22 and a one year high of $7.63.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $70.08 million for the quarter, compared to the consensus estimate of $77.27 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. Equities analysts anticipate that MannKind Co. will post 0.1 earnings per share for the current fiscal year.

Insider Activity at MannKind

In other MannKind news, Director Steven B. Binder sold 67,536 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $6.89, for a total transaction of $465,323.04. Following the transaction, the director now directly owns 1,075,026 shares in the company, valued at approximately $7,406,929.14. This represents a 5.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MNKD. Wells Fargo & Company initiated coverage on MannKind in a report on Friday, December 20th. They set an “overweight” rating and a $9.00 price objective on the stock. StockNews.com lowered MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Finally, Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.07.

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.