TSP Capital Management Group LLC Has $11.16 Million Position in MannKind Corporation $MNKD

TSP Capital Management Group LLC boosted its holdings in MannKind Corporation (NASDAQ:MNKD) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,982,575 shares of the biopharmaceutical company’s stock after buying an additional 201,225 shares during the period. MannKind makes up about 3.5% of TSP Capital Management Group LLC’s investment portfolio, making the stock its 13th largest position. TSP Capital Management Group LLC’s holdings in MannKind were worth $11,155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in MannKind by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 17,322,179 shares of the biopharmaceutical company’s stock valued at $87,131,000 after purchasing an additional 1,263,622 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of MannKind by 12.3% in the second quarter. Geode Capital Management LLC now owns 7,617,583 shares of the biopharmaceutical company’s stock valued at $28,494,000 after buying an additional 831,478 shares during the period. Millennium Management LLC grew its position in MannKind by 68.9% during the first quarter. Millennium Management LLC now owns 5,822,590 shares of the biopharmaceutical company’s stock worth $29,288,000 after buying an additional 2,375,198 shares in the last quarter. Nuveen LLC bought a new position in MannKind during the first quarter valued at about $17,011,000. Finally, 180 Wealth Advisors LLC increased its stake in MannKind by 17.6% during the second quarter. 180 Wealth Advisors LLC now owns 2,582,010 shares of the biopharmaceutical company’s stock valued at $9,657,000 after acquiring an additional 387,306 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insider Buying and Selling at MannKind

In related news, EVP Sanjay R. Singh sold 18,777 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $5.03, for a total transaction of $94,448.31. Following the transaction, the executive vice president owned 455,211 shares in the company, valued at $2,289,711.33. This represents a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stuart A. Tross sold 47,000 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $5.34, for a total transaction of $250,980.00. Following the sale, the insider directly owned 1,032,013 shares in the company, valued at approximately $5,510,949.42. This represents a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MNKD has been the topic of several recent research reports. Leerink Partners initiated coverage on MannKind in a report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price objective on the stock. Zacks Research raised MannKind from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen upgraded shares of MannKind from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price objective on MannKind from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, MannKind has a consensus rating of “Moderate Buy” and a consensus target price of $10.21.

MannKind Trading Up 1.6%

NASDAQ MNKD opened at $5.06 on Wednesday. MannKind Corporation has a 1-year low of $3.38 and a 1-year high of $7.07. The company has a 50 day moving average of $5.41 and a 200-day moving average of $4.58. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 46.00 and a beta of 1.11.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. MannKind had a negative return on equity of 32.60% and a net margin of 10.87%.The business had revenue of $82.13 million for the quarter, compared to analyst estimates of $80.47 million. During the same period in the prior year, the company earned $0.04 EPS. MannKind’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, analysts forecast that MannKind Corporation will post 0.1 earnings per share for the current year.

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.