10,259 Shares in MannKind Co. (NASDAQ:MNKD) Purchased by Beirne Wealth Consulting Services LLC

Beirne Wealth Consulting Services LLC purchased a new stake in MannKind Co. (NASDAQ:MNKD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,259 shares of the biopharmaceutical company’s stock, valued at approximately $66,000.

A number of other hedge funds have also recently bought and sold shares of MNKD. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MannKind by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,816 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of MannKind in the third quarter worth $85,000. Foundations Investment Advisors LLC acquired a new stake in MannKind in the third quarter valued at $93,000. National Bank of Canada FI boosted its stake in MannKind by 14.8% during the 3rd quarter. National Bank of Canada FI now owns 21,553 shares of the biopharmaceutical company’s stock valued at $136,000 after acquiring an additional 2,783 shares during the last quarter. Finally, Semanteon Capital Management LP acquired a new position in MannKind during the 3rd quarter worth $138,000. Institutional investors and hedge funds own 49.55% of the company’s stock.

MannKind Stock Performance

Shares of MannKind stock opened at $5.42 on Wednesday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 77.43 and a beta of 1.28. MannKind Co. has a twelve month low of $3.47 and a twelve month high of $7.63. The business’s 50 day simple moving average is $6.12 and its 200-day simple moving average is $6.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MNKD shares. Wedbush started coverage on shares of MannKind in a research note on Monday, February 10th. They issued an “outperform” rating and a $11.00 target price on the stock. Wells Fargo & Company assumed coverage on MannKind in a research note on Friday, December 20th. They set an “overweight” rating and a $9.00 price objective on the stock. Royal Bank of Canada upgraded 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. Finally, StockNews.com downgraded MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. One research 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.21.

Insider Buying and Selling

In other news, Director Steven B. Binder sold 67,536 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total transaction of $465,323.04. Following the completion of the transaction, the director now owns 1,075,026 shares of the company’s stock, valued at approximately $7,406,929.14. The trade was a 5.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

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.