Hunter Associates Investment Management LLC Purchases 4,830 Shares of MannKind Co. (NASDAQ:MNKD)

Hunter Associates Investment Management LLC increased its position in MannKind Co. (NASDAQ:MNKD) by 8.5% during the third quarter, Holdings Channel reports. The firm owned 61,700 shares of the biopharmaceutical company’s stock after buying an additional 4,830 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in MannKind were worth $387,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of MannKind in the first quarter valued at approximately $450,000. SG Americas Securities LLC acquired a new stake in MannKind during the 3rd quarter valued at $546,000. Bank of New York Mellon Corp boosted its position in MannKind by 14.4% during the second quarter. Bank of New York Mellon Corp now owns 915,248 shares of the biopharmaceutical company’s stock worth $4,778,000 after purchasing an additional 115,390 shares during the period. Millennium Management LLC increased its holdings in shares of MannKind by 189.8% in the second quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock valued at $24,766,000 after purchasing an additional 3,107,598 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of MannKind in the second quarter valued at about $1,524,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

MannKind Stock Up 0.7 %

Shares of NASDAQ:MNKD opened at $6.87 on Wednesday. MannKind Co. has a 12-month low of $3.17 and a 12-month high of $7.09. The company’s 50 day moving average price is $6.29 and its two-hundred day moving average price is $5.41. The firm has a market cap of $1.87 billion, a PE ratio of 229.00 and a beta of 1.31.

MannKind (NASDAQ:MNKD) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $72.39 million for the quarter, compared to the consensus estimate of $64.81 million. MannKind had a negative return on equity of 11.97% and a net margin of 4.73%. The firm’s quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) earnings per share. On average, research analysts expect that MannKind Co. will post 0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MNKD shares. Leerink Partners started coverage on shares of MannKind in a report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a report on Monday, September 9th. Finally, Oppenheimer upped their target price on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $8.67.

Insider Buying and Selling

In related news, EVP Steven B. Binder sold 5,055 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $5.94, for a total transaction of $30,026.70. Following the completion of the sale, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at $6,385,654.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Stuart A. Tross sold 25,000 shares of MannKind stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.26, for a total value of $156,500.00. Following the transaction, the insider now owns 1,022,191 shares in the company, valued at approximately $6,398,915.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Steven B. Binder sold 5,055 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $5.94, for a total value of $30,026.70. Following the sale, the executive vice president now owns 1,075,026 shares of the company’s stock, valued at approximately $6,385,654.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,161 shares of company stock worth $1,229,095. Company insiders own 3.00% of the company’s stock.

About MannKind

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.