MannKind Co. (NASDAQ:MNKD) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in MannKind Co. (NASDAQ:MNKD) by 11.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 576,528 shares of the biopharmaceutical company’s stock after selling 75,816 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MannKind were worth $3,626,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in MannKind by 401.8% in the 3rd quarter. Principal Financial Group Inc. now owns 168,518 shares of the biopharmaceutical company’s stock worth $1,060,000 after purchasing an additional 134,937 shares during the period. International Assets Investment Management LLC raised its holdings in shares of MannKind by 511.6% during the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock valued at $558,000 after acquiring an additional 74,189 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of MannKind during the third quarter valued at approximately $546,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of MannKind by 15.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,885,370 shares of the biopharmaceutical company’s stock valued at $11,859,000 after acquiring an additional 251,587 shares during the last quarter. Finally, Bank of New York Mellon Corp raised 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 acquiring an additional 115,390 shares during the last quarter. Institutional investors and hedge funds own 49.55% of the company’s stock.

Insiders Place Their Bets

In other news, insider Stuart A. Tross sold 55,000 shares of MannKind stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $7.34, for a total value of $403,700.00. Following the completion of the sale, the insider now directly owns 967,191 shares of the company’s stock, valued at approximately $7,099,181.94. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven B. Binder sold 67,536 shares of MannKind stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $6.89, for a total value of $465,323.04. Following the completion of the sale, the director now directly owns 1,075,026 shares of the company’s stock, valued at $7,406,929.14. The trade was a 5.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 190,075 shares of company stock valued at $1,325,587 over the last quarter. 3.00% of the stock is owned by insiders.

MannKind Stock Performance

NASDAQ:MNKD opened at $6.55 on Friday. The stock has a market cap of $1.81 billion, a PE ratio of 93.57 and a beta of 1.28. MannKind Co. has a one year low of $3.17 and a one year high of $7.63. The stock has a 50 day moving average price of $6.77 and a 200 day moving average price of $5.95.

Analyst Ratings Changes

A number of equities analysts have commented on MNKD shares. Leerink Partners started coverage on MannKind in a report on Monday, September 9th. They set an “outperform” rating and a $8.00 target price for the company. Oppenheimer increased their target price on MannKind from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. StockNews.com cut MannKind from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. Finally, Leerink Partnrs raised MannKind to a “strong-buy” rating in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating, six have issued 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 $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.