Semanteon Capital Management LP Purchases New Position in MannKind Co. (NASDAQ:MNKD)

Semanteon Capital Management LP purchased a new stake in shares of MannKind Co. (NASDAQ:MNKD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,937 shares of the biopharmaceutical company’s stock, valued at approximately $138,000.

Several other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after acquiring an additional 1,816 shares in the last quarter. Heritage Oak Wealth Advisors LLC purchased a new stake in shares of MannKind in the third quarter valued at approximately $176,000. International Assets Investment Management LLC increased its position in shares of MannKind by 511.6% in the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock valued at $558,000 after buying an additional 74,189 shares in the last quarter. Private Advisor Group LLC increased its position in shares of MannKind by 45.7% in the third quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 9,588 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of MannKind in the third quarter valued at approximately $93,000. 49.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 80,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.33, for a total value of $506,400.00. Following the transaction, the insider now owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Stuart A. Tross sold 25,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $6.26, for a total value of $156,500.00. Following the completion of the sale, the insider now directly owns 1,022,191 shares of the company’s stock, valued at $6,398,915.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stuart A. Tross sold 80,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.33, for a total value of $506,400.00. Following the sale, the insider now directly owns 1,047,191 shares of the company’s stock, valued at $6,628,719.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,161 shares of company stock valued at $1,229,095. Insiders own 3.00% of the company’s stock.

MannKind Price Performance

Shares of NASDAQ:MNKD opened at $6.82 on Tuesday. The business’s 50 day moving average price is $6.26 and its 200-day moving average price is $5.39. The firm has a market capitalization of $1.86 billion, a PE ratio of 227.33 and a beta of 1.31. MannKind Co. has a 1 year low of $3.17 and a 1 year high of $6.92.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Leerink Partnrs upgraded MannKind to a “strong-buy” rating in a research report on Monday, September 9th. Leerink Partners assumed coverage on MannKind in a research report on Monday, September 9th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, Oppenheimer boosted their price objective on 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.67.

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.