Heritage Oak Wealth Advisors LLC Acquires Shares of 28,000 MannKind Co. (NASDAQ:MNKD)

Heritage Oak Wealth Advisors LLC bought a new position in MannKind Co. (NASDAQ:MNKD) during the 3rd quarter, HoldingsChannel reports. The fund bought 28,000 shares of the biopharmaceutical company’s stock, valued at approximately $176,000.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC raised its holdings in MannKind by 189.8% in the 2nd quarter. Millennium Management LLC now owns 4,744,519 shares of the biopharmaceutical company’s stock worth $24,766,000 after acquiring an additional 3,107,598 shares during the last quarter. TSP Capital Management Group LLC increased its holdings in shares of MannKind by 196.0% in the 2nd quarter. TSP Capital Management Group LLC now owns 2,391,900 shares of the biopharmaceutical company’s stock worth $12,486,000 after purchasing an additional 1,583,800 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in shares of MannKind by 4.7% in the second quarter. 180 Wealth Advisors LLC now owns 2,034,134 shares of the biopharmaceutical company’s stock worth $11,411,000 after purchasing an additional 91,924 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $4,778,000 after purchasing an additional 115,390 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of MannKind by 25.0% during the first quarter. GSA Capital Partners LLP now owns 625,410 shares of the biopharmaceutical company’s stock valued at $2,833,000 after buying an additional 124,888 shares during the last quarter. Hedge funds and other institutional investors own 49.55% of the company’s stock.

MannKind Stock Up 1.6 %

MannKind stock opened at $6.54 on Friday. The business has a 50-day simple moving average of $6.23 and a two-hundred day simple moving average of $5.36. MannKind Co. has a 52-week low of $3.17 and a 52-week high of $6.92. The company has a market cap of $1.80 billion, a P/E ratio of 163.54 and a beta of 1.31.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other MannKind news, EVP Steven B. Binder sold 5,055 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was 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 approximately $6,385,654.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Stuart A. Tross sold 80,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.33, for a total transaction of $506,400.00. Following the sale, the insider now directly owns 1,047,191 shares in the company, valued at $6,628,719.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven B. Binder sold 5,055 shares of MannKind stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $5.94, for a total transaction of $30,026.70. Following the transaction, the executive vice president now owns 1,075,026 shares in the company, valued at approximately $6,385,654.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,161 shares of company stock valued at $1,229,095. 3.00% of the stock is owned by company insiders.

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.