MannKind Co. (NASDAQ:MNKD) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its position in MannKind Co. (NASDAQ:MNKD) by 14.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,553 shares of the biopharmaceutical company’s stock after buying an additional 2,783 shares during the period. National Bank of Canada FI’s holdings in MannKind were worth $136,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MNKD. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of MannKind by 22.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 1,816 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of MannKind during the 2nd quarter worth approximately $55,000. Brookstone Capital Management purchased a new position in shares of MannKind during the 2nd quarter valued at approximately $61,000. Renaissance Technologies LLC acquired a new stake in MannKind in the 2nd quarter valued at $67,000. Finally, Quantinno Capital Management LP purchased a new stake in MannKind in the 3rd quarter worth $85,000. 49.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MNKD has been the subject of a number of research reports. StockNews.com cut shares of MannKind from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Oppenheimer boosted their price objective on MannKind from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Leerink Partners assumed coverage on MannKind in a research note on Monday, September 9th. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, Leerink Partnrs raised MannKind to a “strong-buy” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.67.

Insider Buying and Selling at MannKind

In related news, insider Stuart A. Tross sold 55,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 967,191 shares of the company’s stock, valued at approximately $7,099,181.94. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven B. Binder sold 67,539 shares of MannKind stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $6.76, for a total transaction of $456,563.64. Following the transaction, the director now directly owns 1,075,026 shares in the company, valued at $7,267,175.76. This trade represents 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 worth $1,325,587 in the last three months. 3.00% of the stock is owned by corporate insiders.

MannKind Price Performance

MNKD stock opened at $6.27 on Tuesday. MannKind Co. has a 1 year low of $3.17 and a 1 year high of $7.63. The firm has a market capitalization of $1.73 billion, a PE ratio of 89.57 and a beta of 1.28. The business has a 50 day simple moving average of $6.77 and a 200-day simple moving average of $6.00.

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.